China's exports to Russia soar in April, imports plummet

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Joe Cash BEIJING, May 9 (Reuters) - China's exports to Russia continued to soar in April from a year earlier after more than doubling in March, while imports snapped back to single digit growth, Chinese customs data showed on Tuesday. China's exports to Russia climbed 153.1% in April to a total of $9.6 billion, continuing March's rapid upward trajectory when exports grew by 136.4% after only registering growth of 19.8% in the first two months combined. Imports from Russia grew by just 8.06% to $9.6 billion after recording increases of 30.3% in January and February, and 40.05% in March. China's imports contracted sharply in April, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs, with coal imports falling from a 15-month high in the prior month. Russia became China's second-biggest coal supplier earlier this year. Chinese Foreign Minister Qin Gang on Friday assured his Russian counterpart of deepening bilateral ties in a meeting in India with other foreign ministers of the Shanghai Cooperation Organisation, promising that "coordination and cooperation" will only grow stronger.


The European Union has proposed placing sanctions on Chinese companies accused of selling equipment that could be used in weapons to support Russia's war against Ukraine, the Financial Times reported on Sunday.


China's customs agency did not give details on Tuesday of what products boosted bilateral trade. (Reporting by Joe Cash; Editing by Christina Fincher)

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