
Last Two Decades Records Shows that China has become Economically Crucial to Russia
By Shubhendra Anand , 29 March, 2023
China has become crucial to the russian economy in the last two decades. Sino- Russian strength under strong focus shows how China has become an important trade partner to Russia.
According to the reports, Russia has continuously expanded the hare of its imports from China over the years. The data from the trade portal of Germany Trade & Invest (GTA) shows that Russia's total value of the share of imports coming from China is around 24 percent before the war. Russia used to source most of its imports, 13.8 percent from Germany at the beginning of the millennium.
The reports also say that China is the largest trading partner of Russia already. The Russia-China affirmation came as the U.S. and its allies sanctioned Russia due to its invasion of Ukraine. Beijing instead called it for peace talks and not an invasion.
Upon the recent meeting between the two countries, the increasing use of the local currency was prominent on the list. It is also clear that the ruble and yuan already account for the two-thirds of trade deal payments between the two countries.
As the survey reports say, the essential goods in 2020 included all equipment from the field of communications technology and the equipment for recording and reproducing images and sound. Also, Russia imports a lot of office machines and automatic data processing machines. On the other hand, China usually imports crude oil and petroleum products from Russia.
Russia's Biggest Export Destinations

Latest News

In March 2025, Elsevier launched ScienceDirect AI, a world-renowned leader in science and health information science. This state-of-the-art generative AI tool can potentially transform the industry with its revolutionary advances in research. This…

The global electric vehicle (EV) industry has reached a pivotal milestone. The average price of lithium-ion battery packs has dropped below the USD 100 per kilowatt-hour (kWh) threshold, a benchmark long considered critical for achieving price parity…

In 2025, China will focus on self-sufficiency in high-tech industries by further integrating domestically produced semiconductor chips into the country\'s electric vehicle (EV) industry. By doing so, China aims to reduce reliance on foreign…

GM will implement artificial intelligence (AI) in the company's facilities in 2025 to improve safety, quality, and efficiency. This appears to be another strategic initiative from GM aimed at innovation and operational improvement.
At GM, one of the…

In January 2025, Honda Motor Co., Ltd. and Renesas Electronics Corporation declared a strategic collaboration to create a high-performance system on a chip (SoC) designed for Software Defined Vehicles (SDVs). This cooperation is intended to bolster…

Head Research
Latest News




