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The contrast widens! China's exports to Russia soared 52%, while exports to the United States and the European Union fell by more than 10%.
Nov 21,2023
Recently, according to the Russian television website reported that this yearFrom January to October, the trade volume between Russia and China increased by more than 25% year-on-year, reaching US $196.5 billion for the first time.
At the same time, according to data released by the General Administration of Customs a few days ago, China's exports to the United States, the European Union and other countries have shown a downward trend.
Sino-Russian Economic and Trade Cooperation Deepening
A few days ago, the Russian Federal Customs Service predicted that,The annual trade volume between China and Russia in 2323 is likely to significantly exceed the $200 billion level originally planned by the two countries in 2024.
According to the container trading and leasing platform company in Hamburg, Germany.Container xChange research report shows that China's exports of goods to Russia are growing at an alarming rate.
Currently, there are other Russian ports.150000 containers are waiting to be returned to China.
Over the past decadeChina has been Russia's key trading partner. And in todayAmong China's exports in, the brightest performance was automobiles.
According to Ruslan, Acting Director of the Russian Federal Customs Service.Davydov said that 92% of foreign cars imported into Russia now come from China.
Previously, according to RussiaAccording to the statistics of "automobile statistics" analysis company, only 9% of the new light vehicles sold in Russia in early 2022 are Chinese brands, while the proportion of Chinese brands has reached 54% in September 2023.
In 2022, Russian passenger car production will drop by 67% due to sanctions. The Central Bank of Russia believes that "this is largely due to the reduction in parts assembly caused by the withdrawal of foreign companies".
The Central Bank of Russia further estimates that the output of local brands in Russia will decline by about40%, mainly due to shortage of spare parts.
In addition, foreign automakers stopped producing in Russia, and sanctions also led to a sharp reduction in car imports from Europe, South Korea and Japan.
At the same time, China's own mobile phones are also grabbing market share in Russia.According to a large Russian telecommunications company"Mobile telecommunications MTS" study, in 2023 Russians buy more smartphones.
AsAt the end of the second quarter of 2023, a total of 6.6 million units were sold in Russia, with a total sales of 135.6 billion rubles, an increase of 32% over the same period last year.
More and more Russians are buying Chinese phones. AsIn the second half of 2023, the share of Chinese smartphone manufacturers in the Russian market will exceed 70% in terms of volume, compared with 55% in the same period last year.
Among themPopularThe three Chinese brands are Xiaomi,Realme和Tecno。
At present, Chinese enterprises are filling the gap in the Russian market at a record speed.The growth of the volume of trade between China and Russia indicates that the economic ties between the two countries are getting closer and the potential for trade cooperation is huge.
With the further strengthening of cooperation between the two sides, Sino-Russian trade is expected to continue to maintain a steady growth trend and inject new impetus into the economic development of the two countries.
BeforeAnalysis of China's Export Market in October
According to data released by the General Administration of Customs a few days ago, ASEAN is still China's largest export market.
Before this yearIn 10 months, the total value of trade between China and ASEAN was 5.23 trillion billion yuan, up 0.9 percent. Among them, exports to ASEAN were 3 trillion billion yuan, up 0.6 percent.
The second largest export market is the EU, and the total value of trade between China and the EU is4.59 trillion yuan, down 1.6 percent, or 13.4 percent. Among them, exports to the EU were 2.94 trillion yuan, down 5%.
Among them, China's trade with Germany, the Netherlands, France, Italy and other European countries,Chinese exports to Germany are down.13.6 per cent, with exports to the Netherlands, France and Italy falling by 14.1 per cent, 10.1 per cent and 12.7 per cent, respectively.
The United States is China's third largest export market this year.1 The total value of Sino-US trade in the first 10 months was 3.86 trillion yuan, down 7.6 per cent, or 11.2 per cent. Among them, China's exports to the United States were 2.91 trillion billion yuan, down 9.9 percent.
Japan is the fourth largest export market, and the total value of trade between China and Japan is1.84 trillion yuan, down 6.5 percent, or 5.4 percent. Among them, exports to Japan were 919.36 billion billion yuan, down 2.9 percent.
It can be seen that China's exports to the United States and the European Union have declined, and exports to ASEAN have increased. The total exports to these three major markets account for the total exports.45.2 per cent, accounting for almost half of exports ".
Therefore, the recovery of market demand in Europe and the United States is crucial to China's foreign trade exports.
It is worth noting that this yearFrom January to October, Russian exports to China were 106.4 billion billion U.S. dollars, an increase of 12.4 percent; Chinese exports to Russia were nearly 90.1 billion U.S. dollars, an increase of 52.2 percent.
By country, formerIn October, China's export volume to Russia has exceeded that of Germany and Australia, and is slightly less than that of India.
Russia has improved its ranking among China's trading partners from tenth to sixth in less than a year.
This means that Russia has successively surpassed Germany, Australia, Vietnam and other countries to become my country's important trading partner. At present, this data is still growing.
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