China’s exports to Russia held up well in October, China’s customs data showed on Tuesday, bucking the trend of weakening demand for Chinese manufactured goods elsewhere.
Chinese shipments to Russia rose 17% to $8.69 billion in October from a year earlier, Reuters calculations based on customs data showed. Although the pace of growth slowed from the 21% gain in September, it was in contrast to a 6.4% decline in China’s overall exports last month.
Imports from Russia rose 9% to $11.11 billion last month after growing 8% in August.
The Chinese customs agency did not give a breakdown of imports and exports by both country and product in the data on Tuesday.
China has emerged as a major economic lifeline for Russia which is under Western sanctions amid the ongoing Russia-Ukraine conflict.
Bilateral trade hit $196.48 billion in January-October, up 27.7% from a year earlier, Chinese customs data showed.
In late October, businesses from both countries in northeastern Liaoning province signed a raft of cooperation deals in sectors ranging from manufacturing and logistics to e-commerce and agriculture.
Russian energy giant Gazprom GAZP.MM said last month it was working on the design of infrastructure for a gas pipeline from the Sakhalin region in Russia’s Far East to China.
(Reuters)