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China's exports to Russia grow 20.2pc but slow from 26.5pc high
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Posttime:2022-10-28
CHINA's exports to sanctions-hit Russia rose at a double-digit pace for the third consecutive month in September, bucking the trend of weakening external demand elsewhere durng the Russo-Ukraine war and a global economic slowdown, reports Reuters.
Calculations based on Chinese customs data showed shipments of Chinese goods to Russia rose 21.2 per cent from a year earlier in dollar terms, slowing from a 26.5 per cent increase in August yet outperforming China's overall export growth of 5.7 per cent by a large margin, as interest rate hikes to curb inflation weakened demand for Chinese goods.
Exports to Russia included smartphones, generator sets, excavators and containers. Imports from Russia jumped 55.2 per cent compared with a 59.3 per cent increase in August, driven by a 22 per cent annual rise in oil imports, customs data showed.
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