MOSCOW, May 10. Commodity turnover between Russia and China in January-April 2023 increased by 41.3% and amounted to $73.148 billion, according to data released on Tuesday by the Main Customs Administration of China. 33.686 billion dollars, an increase of 67.2% compared to the same period in 2022, supplies from Russia to China increased by 24.8%, amounting to 39.462 billion dollars.
Separately, in April, the level of trade between the two countries amounted to $19.228 billion, Russia imported goods worth $9.606 billion to China, China to Russia — by 9.621 billion.
More than two thirds of settlements in national currencies
More than 70% of settlements in trade between Russia and China are already made in national currencies, the Minister of Finance said at the end of April Anton Siluanov.
The head of the Ministry of Finance noted that a year or two ago this figure reached 30%.
«Moreover, this is both rubles and yuan, it is mutually beneficial, and it is reliable,» he added.
Good trend
Earlier, the official representative of the Ministry of Commerce of the People's Republic of China, Shu Jueting, noted that bilateral trade between Russia and China has maintained a good development trend since the beginning of the year.
She pointed out that the growth in trade between the countries by 38.7% in the first quarter «fully reflects the potential of trade and economic cooperation» between the countries. Shu Jueting stressed that China will continue to promote the sustainable, stable and healthy development of Sino-Russian trade and economic cooperation based on the principles of mutual respect and mutual benefit.
Growing exports to India
Positive dynamics has also developed in the growth of Russian exports to India, whose figure for the incomplete 2022-2023 financial year amounted to a record $41.6 billion, which allowed Moscow to remain the fifth largest trading partner of Delhi, follows from an analysis of data from the Indian Ministry of Trade and Industry.
According to the results of eleven months of the financial year, which began in April 2022 and ended in March 2023, India imported products from Russia worth the highest ever $41.6 billion. This is 4.2 times more than the previous record recorded for the entire last financial year.
Such an increase in Russian exports allowed the country to maintain its fifth place among India's largest trading partners with a trade turnover of $44.4 billion.
With At the same time, the supply of Indian goods to Russia amounted to only 2.8 billion dollars. This resulted in India's record trade deficit with Russia of $38.75 billion.