China's exports to Russia soared 136.4% in March to a total of $9 billion, significantly faster than a 19.8% growth registered in the first two months combined.
Imports from Russia rose 40.5% to $11 billion, also faster than the 31.3% increase in January-February.
The upbeat data on trade between the two countries comes amid slowing global growth. The International Monetary Fund on Tuesday cut its 2023 global growth forecasts to 2.8% from 2.9%, warning that financial system vulnerabilities could bring a new crisis. During a visit by Chinese President Xi Jinping to Russia in late March, he and President Vladimir Putin referred to each other as dear friends and promised economic cooperation. The visit came just over a year after Russia launched what it calls a "special military operation" in Ukraine, triggering sanctions by the European Union on purchases of Russian seaborne crude and coal, and a price cap agreed by the Group of Seven on Russian crude oil in December.
China, the world's top energy consumer, has saved billions
of dollars on purchases of cheaper Russian oil and coal.
Chinese customs agency did not give details on Thursday of
what products boosted bilateral trade.
(Reporting by Beijing newsroom; Editing by Robert Birsel)
