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Updated December 22nd, 2023 at 14:08 IST

Russia’s goods export to China at record high of $110 billion in 2023

With record exports, Russia  has deepened its already close ties with China, in a bid to offset western sanctions imposed on Russia.

Business Desk
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Exports of goods from Russia have hit a record of more than $110 billion in 2023, Russia’s first Deputy Prime Minister Andrei Belousov said on Thursday at a meeting on national projects.

"The value of export deliveries to the markets of friendly countries in 2023 exceeded $360 billion. That was 60 per cent more in physical terms compared to 2021," Belousov said. "The volume of trade with China reached a historical maximum. Russian exports to China will reach a record high this year - of more than $110 billion. And the total trade turnover between Russia and China will reach $210 billion," he added further. 

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With record exports, Russia  has deepened its already close ties with China, in a bid to offset western sanctions imposed over what Russia calls its "special military operation" in Ukraine. 

Russia officially designated countries which imposed sanctions on "hostile states" and moved to upgrade relations with other countries it regards as "friendly states."

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With Reuters Inputs

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Published December 21st, 2023 at 19:41 IST

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