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| China's exports to Russia continue to grow at double-digit rates. (Source: Bloomberg) |
Specifically, the total export turnover of Chinese goods to Russia in October increased by 17% over the same period last year, to 8.69 billion USD.
Although the growth rate slowed from September's 21% increase, the result was still upbeat compared to the 6.4% drop in China's total exports in October.
Meanwhile, imports of goods from Russia into the Northeast Asian country also increased by 9% last month, to 11.11 billion USD.
China has emerged as a vital economic lifeline for Russia, which is under Western sanctions amid its ongoing military campaign in Ukraine.
Data from Chinese customs shows that China-Russia bilateral trade volume reached 196.48 billion USD in the first 10 months of 2023, up 27.7% year-on-year.
In late October, businesses from both countries signed a series of cooperation agreements in areas ranging from manufacturing, logistics, to e-commerce and agriculture in China's northeastern province of Liaoning.
Russian energy giant Gazprom says it is working on infrastructure designs for a gas pipeline from Russia's Far East region of Sakhalin to China.
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