The trade turnover between Moscow and China has reached a two-year high
2021-11-17 06:31

The trade turnover between Moscow and China has reached a two-year high

The trade turnover between Moscow and China in the first 8 months of this year grew to almost 40 billion dollars. Such figures have become record high for the last two years, Alexander Prokhorov, the head of the Moscow Department of Investment and Industrial Policy, told Made in Russia.

"The shares of exports and imports in the structure of the capital's trade with China are almost equal and are of an equal nature. Thus, Moscow's total exports to the Asian country, according to the export support center "Mosprom", amounted to 18.43 billion dollars, imports account for 20.50 billion dollars," Prokhorov said.

Moscow's non-resource non-energy exports to China rose 34.8 percent over the period compared to pre-dawn 2019 and amounted to $1.11 billion. This is about 6% of the capital's total non-resource exports in January-August this year.

Industrial products account for the vast majority of exports to China, with a total of over one billion dollars. These are mechanical equipment and machinery, plastics and plastic products, as well as electrical devices and communications equipment.

"Some of these products have shown multiple growth over the past two years. For instance, in 2019, exports of plastics and plastic products were $50.76 million, while in January-August 2021, shipments already reached $329.43 million, showing a more than six-fold increase," the department head pointed out.

The increase of indicators is also fixed in the supply of agro-industrial products. According to the Mosprom center, exports of such goods to the PRC in the first eight months increased by 60% against 2019 - from $26.2 million to $42 million. Metropolitan beer (over four million dollars), chocolate products (2.23 million dollars) and chocolate without filling (almost two million dollars) are in particular demand in China. Moscow exporters also delivered to the Chinese market various cereals ($1.9 million) and ice cream ($1.3 million).

The Department press service has reminded that in summer a business mission to China was organized for Moscow exporters. Then it was attended by six companies involved in the production of equipment and technology, nondestructive testing, inspection equipment, trade and cash equipment, electronic voltage transformers, and integrated circuits.

In addition, one of the largest exporters in Moscow participated in the SIAL China international food exhibition in Shanghai in spring.

Today, China is among the main importers of non-energy products of the capital and currently ranks sixth in terms of the volume of products supplied to the country.

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Author: Maria Buzanakova