info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

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 

Destinations.jpg

Latest News

2025.png
Advanced Packaging Reshapes Chip Industry in 2025

The world of semiconductors is evolving with new advanced multichip packaging innovations in 2025. Due to the advancements, the chip's performance improves, mobile devices and new GenAI technology can be produced promptly, and production and…

Read More

2025.png
AI Reinvents Energy Efficiency in Building Designs 2025: A Novel Approach to Clean Energy Transition

In 2025, AI technology will change energy efficiency in buildings, marking another milestone in the shift towards renewable energy. With AI, Building Management Systems (BMS) can now guarantee energy monitoring and optimization, which minimizes waste…

Read More

2050.png
Big Tech Backs Nuclear Expansion: Pledges to Triple Global Capacity by 2050

Leading technology giants Amazon, Google, and Meta have teamed up with other big energy users in a historic action at the CERAWeek 2025 energy conference in Houston to promote an ambitious initiative: doubling world nuclear power capacity by 2025…

Read More

Shifts.png
China’s Refining Industry Sees 2.1% Growth in Early 2025 Amid Rising Fuel Demand and Geopolitical Shifts

China's refining sector showed resilience and adaptability in the first months of 2025, raising crude oil throughput by 2.1 percent over the year before. According to the National Bureau of Statistics, this increase resulted in a processing volume of…

Read More

2025.png
Elsevier Unveils ScienceDirect AI in 2025 to Revolutionize Research Efficiency

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…

Read More

Author Pic
Shubhendra Anand

Head Research