In November 2024, exports of goods from China to Russia collapsed by 10.5% compared to the same period of 2023. This was the first fall in the last four months, when trade between countries has shown stable growth.
The reduction of imports of Chinese goods from Russia was also recorded. In November, it fell by 7.4% in Yuan, while in October, this figure decreased by 4.3%. However, the Chinese Customs Office did not provide a detailed breakdown on types of goods exported or imported.
In previous months, China's exports to Russia demonstrated significant growth: in October, the figure rose by 24%, and in September - by 16%.
Analysts associate a decrease in indicators with several factors. In particular, Russian dictator Volodymyr Putin has previously acknowledged that there is a key problem in bilateral trade with payment payments. According to him, the central banks of both countries are working to resolve these issues.
Reduction of trade can also be a consequence of changes in logistics chains, a decrease in demand for certain categories of goods or the impact of geopolitical and economic factors.
