Trade volume between Russia and China has decreased by 7.5% since 2025.
At the pulsating Russia-China forum unfolding in Khabarovsk, Russia, Alexei Dakhovskiy—Russia's trade rep in China—spilled some tea on a downward trade trend between these titans, as per "Kommersant".
January-April 2025 saw a 7.5% year-on-year drop in trade volume, skimping $71 billion. Dakhovskiy highlighted the high base figure from 2024, where Russia and China's trade volume peaked nearly at $245 billion. He scrutinized several factors for the decline, including:
- The Russian market's saturation with Chinese goods,
- Dropping commodity prices,
- The Central Bank of Russia's high refinancing rate, and
- Sluggish growth in certain sectors of the Chinese economy using Russian products, notably non-ferrous metals.
This year's trade volume has charted a steady descent. Exports from Russia to China plunged 9%, while imports from China retreated 5.3%. In Dakhovskiy's own words, "I reckon the times of explosive trade growth are well behind us. Trade will grow, but not at the double-digit rates we used to witness."
Chairman of the Union of Chinese Entrepreneurs in Russia, Zhou Liqun, however, announced China's intent to escalate trade volume between the two nations to $300 billion in the following 2-3 years.
On May 16, the first "Made in Russia" branded warehouse distribution center sprang up in Suifenhe, Heilongjiang province, China. Russian firms will use this as a launchpad to fortify their stance and expand within China.
The center encompasses 4,600 sq.m. and already hosts over 900 product lines from 70 Russian producers participating in the state program for promotion via the Russian national pavilion in China. The primary pavilion nestles in Shanghai, with branches and "Made in Russia" retail stores in Harbin, Chengdu, Shenzhen, and Shenyang.
As revealed by the Russian Export Center (REO),registered within the VEB.RF group, adding to the national pavilion bolsters Russian companies' business connections in China, enhances product recognition among punters, scribes export contracts, and ensures product deliveries. Furthermore, the "Made in Russia" festival-exposition will run in Harbin from May 17 to 21, 2025, inviting 100 producers from 50 Russian regions.
Previous reports from DK.RU detailed the Russia-China summit held in the Kremlin early May 2025. Russian President Vladimir Putin and Chinese President Xi Jinping tackled the next phase of their relationship, cooperative alliance, and strategic partnership, in addition to current international and regional issues.
After US-China talks in Geneva on May 11, the White House announced the reduction of tariffs on Chinese goods from 145% to 30% and Chinese tariffs on American goods from 125% to 10% for 90 days commencing May 14. US President Donald Trump hailed the agreement as a "complete revamp," attributing the Chinese market's opening to American business as its primary perk.
Don't forget to check out DK.RU's other articles, like "Fear, Panic, Volatility: Trump's Trade War Endangers Global Markets."
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The decline in trade volume between Russia and China, as mentioned by Dakhovskiy, could be linked to factors such as the saturation of the Russian market with Chinese goods, dropping commodity prices, and the high refinancing rate by the Central Bank of Russia.
Despite the current downward trend, the Chairman of the Union of Chinese Entrepreneurs in Russia, Zhou Liqun, has announced China's intent to escalate trade volume between the two nations to $300 billion in the coming 2-3 years. This ambition could potentially revitalize the finance sector and the industry of both countries, creating new opportunities for growth.
