China’s exports to Russia soared by 21% in September from a year earlier, climbing by over 10% for a third consecutive month.
Top exports to Russia included smartphones, generator sets, excavators and containers. The surge outperformed China’s overall export growth of 5.7% by a significant margin, customs data showed on Monday.
The data bucked the trend of a global economic slowdown and rising prices from the Russia-Ukraine war which have weekend global trade figures.
Import Surge
China’s imports from Russia also jumped 55% compared with a 59% increase in August, partly driven by a 22% annual rise in oil imports, the customs data showed.
Oil supplies from Russia totalled 7.46 million tonnes, equivalent to 1.82 million barrels per day (bpd), compared with 1.96 million bpd in August.
As Western nations have shunned Russia, cooperation with Beijing has become increasingly important for Moscow. Bilateral trade has surged to over $136 billion in value in the first nine months, up 32.5%.
- Reuters, with additional editing from Alfie Habershon
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