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China, Russia Trade Down 32%

China, Russia Trade Down  32%China, Russia Trade Down  32%

Trade turnover between China and Russia in August declined in annual terms by 32.6% to $6.13 billion, according to the report published by the General Administration of Customs of China on Tuesday, Tass reported. According to the report, exports from China to Russia in the reporting period fell by 37.6% to $3.631 billion, imports of Russian goods to China fell by 23.8% to $2.499 billion. China-Russia trade turnover in January-August of 2015 declined in annual terms by 29.5% to $43.814 billion, while exports from China to Russia in the reporting period fell by 36.3% to $21.628 billion, imports of Russian goods to China fell by 21.2% to $22.187 billion. The weakening of the ruble does not carry risks for the Russian-Chinese projects, Russian-Chinese Business Council chairman Gennady Timchenko said Friday. Moscow and Beijing have signed a memorandum of understanding to set up a Russian-Chinese economic alliance aimed at fostering cooperation on Beijing’s Silk Road East-West trading route.

Financialtribune.com