Russian Ambassador To China Says China-Russia Bilateral Trade Balanced

Trade between Russia and China is balanced overall despite yearly fluctuations, Ambassador of the Russian Federation to the People's Republic of China Andrey Denisov said Wednesday.

BEIJING (UrduPoint News / Sputnik - 12th December, 2018) Trade between Russia and China is balanced overall despite yearly fluctuations, Ambassador of the Russian Federation to the People's Republic of China Andrey Denisov said Wednesday.

"If we take into account several previous years, then we should say that overall Russia-China trade is balanced," Denisov said during a press conference.

The ambassador noted that in 2017 trade amounted to $84 billion, with Chinese exports leading by about $10 billion, while this year Russia's exports were $10 billion high that Chinese exports.

He further added that trade this year may surpass $110 billion.

"We are supposedly reaching a goal set by our leaders, $100 billion in trade in one year. Within 11 months of this year, our trade increased by 28 percent, compared to the same period last year, and exceeded $97 billion.

The fact that it will surpass $100 billion this year is beyond any doubt. If December goes well, and usually trade advances rapidly in December, then we can get close to or even surpass the level of $110 billion," Denisov said.

According to the Chinese General Administration of Customs data released on December 8, China-Russia trade increased by 27.8 percent year-on-year to $97.23 billion in January-November 2018. Chinese exports to Russia increased by 12 percent reaching $43.45 billion, while imports from Russia rose by 44.3 percent to $53.78 billion.

Year-on-year trade between Russia and China grew by 20.8 percent in 2017 amounting to $84 billion. Chinese exports to Russia surged by 14.8 percent to $42.9 billion, while imports from Russia increased by 27.7 percent reaching $41.2 billion.