In January 2015 the trade volume between China and Russia fell by 36.4% on a yearly basis to 33.2 billion yuan or $5.3 billion, the Russian information agency reports citing the General Administration of Customs of the People’s Republic of China.
Imports from Russia tumbled down by 28.7% to 15.9 billion yuan or $2.5 billion in January 2015. The Chinese exports to the Russian Federation for the same period inched down by 42.1% to 17.3 billion yuan or $2.8 billion.
The total foreign trade volume of China dropped by 10.8% to 2.09 trillion yuan or $334.6 billion. The customs office explains this situation by the coming Chinese New Year that is followed by a series of holidays.
Currently China is the biggest trading partner of Russia. At the same time, Russia takes the ninth place among the Chinese partners by sales turnover. In the previous year the trade volume of these two countries grew by 6.8% to $95.28 billion. In May 2014 Russia’s minister of energy Alexander Novak said that Russia wants to double the sales turnover with China to $200 billion by the year of 2020.
