This data was released today by China's General Administration of Customs. The world's two economic giants had previously set a goal of increasing mutual trade to 200 billion dollars by 2024.
Sanctions Will Not Change Global Demand for Russian Oil
According to the data, in the first 11 months of 2022, trade between Russia and China increased by 32 percent compared to the figures for the same period last year.
Chinese exports to Russia increased by 13.4 percent to 67.333 billion dollars during the reporting period. For its part, Russia recorded a 47.5 percent increase in its exports to the Asian nation, reaching 105 072 million dollars.
Exports from China to Russia include electronics, industrial equipment, toys, footwear, vehicles and air-conditioning equipment, while its imports from Russia include mainly oil, natural gas, coal, copper, wood, other fuels and seafood.
Russia's energy resources have had a significant impact on trade between the two countries. Amid Western sanctions over Russia's special military operation in Ukraine, Beijing has benefited from Moscow's discounts on its fossil fuels as it seeks to secure new buyers.
Between January and October this year, China has increased its imports of Russian coal to 53 million tons. During this period, the Asian nation has also increased its imports of Russian oil to almost 72 million tons, or 9.5 percent.