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17.01.25 14:17

Economy

China-Russia trade turnover to reach record high in 2024

It increased by 1.9 per cent compared to the previous year

The volume of trade between Russia and China in 2024 reached $244.8 billion. This is confirmed by the data of the General Administration of Customs of the People's Republic of China, reports People's Daily, a partner of TV BRICS.

Russian exports amounted to US$129.3 billion, while supplies from China totalled US$115.5 billion. Thus, the bilateral trade turnover has reached a new historical record.

The agency specified that in December 2024, the trade turnover of the two countries amounted to US$21.9 billion. Russia imported US$10.6 billion worth of goods to China, while imports from China to Russia amounted to US$11.3 billion.

The bulk of Russian products imported by China are energy carriers: oil, natural gas, and coal. In addition, the country imports copper, timber, and seafood. China supplies Russia with cars, tractors, electronics, industrial equipment, and other goods.

Photo: iStock

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Nitin Gadkari

India's Union Minister for Road Transport and Highways

"Our resolution has just been passed. It is very important as far as the BRICS countries are concerned, which cover 40 per cent of the world's population. We are committed to the futuristic development of the transport sector, to create cooperation, coordination and communication between the stakeholders. This resolution indicates a lot of new technology and innovation in the transport sector. It covers the road sector, railways, aviation and water transport"

Prabowo Subianto

President of Indonesia

"This roadmap sets the framework for our joint efforts. Indonesia and Belarus have great potential for expanding cooperation in various fields. Our cooperation will focus on industrial development and agricultural modernisation. In industry, we see a major opportunity to increase trade volumes, investment, and cooperation between our two countries. We are also pushing for closer collaboration in culture and human resource development"

Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

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