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US DOLLAR / RUSSIAN ROUBLE (USD/RUB)

Delayed  -  06:33:09 2023-02-02 am EST
70.0300 RUB   +0.40%
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China's trade with Russia grows at slower pace in Nov

12/07/2022 | 12:44am EST
FILE PHOTO: A 100 yuan banknote is placed beside a U.S. 100 dollar banknote in this illustrative photograph taken in Taipei

BEIJING (Reuters) - China's trade with Russia grew at a slower pace in November, as the ongoing Russia-Ukraine war, global recession risks and strict COVID restrictions in some Chinese cities weighed on demand abroad and at home.

Shipments of Chinese goods to Russia rose 17.9% year-on-year in dollar terms, slowing from 34.6% in October, but still marking the fifth monthly double-digit growth in a row, according to Reuters calculations based on Chinese customs data on Wednesday.

Imports from Russia soared 28.5% in November from a year earlier, slower than the 36% gain in October, as COVID-19 flare-ups and related curbs weighed on domestic demand.

Shipments of Chinese goods to Russia have maintained double-digit growth since July, as Russian imports from the European Union contracted under a raft of sanctions.

Chinese Premier Li Keqiang in a video conference on Monday told his Russian counterpart the two countries should steadily advance cooperation projects in key areas, and step up their economic and trade cooperation.

(Reporting by Beijing Newsroom; Editing by Lincoln Feast.)


ę Reuters 2022
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