Russia-China Trade Turnover Up 34% in January 2017

The trade turnover between China and Russia increased by 34 percent in January as compared to the figure of last year, data from the State Administration of Taxation released on Friday shows.

BEIJING (Sputnik) – The trade turnover between the two countries amounted to $6.55 billion in January 2017. China’s exports to Russia grew 29.5 percent, reaching $3.41 billion, while imports from Russia increased by 39.3 percent – up to $3.14 billion.

In 2016, the trade turnover between Russia and China increased by 2.2 percent, with the annual figure standing at $69.525 billion.

Imports in China went up 16.7 percent in January, while exports rose 7.9 percent last month. The total external trade volume grew 11.4 percent in January, up to $314.16 billion.

Last year, Chinese imports decreased by 5.5 percent, while exports went down 7.7 percent.

China’s crude oil imports increased by 27.5 percent in January, as compared to the figure of last year. Last month, China imported 34.03 million tonnes (metric tons) of crude, or 8.01 million barrels per day.

In December 2016, the import of crude oil in China was 36.38 million metric tons. In total, China imported 381 million metric tons of crude last year, showing a 13.6 percent increase.