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Russia, China to Have Record-High Turnover in 2022, Trade to Grow by 30% - Customs Service

© AFP 2023 / LIU JinA man rides with a Russian flag displayed on his pedicab in Beijing's Russian trade district of Yabaolu. (File)
A man rides with a Russian flag displayed on his pedicab in Beijing's Russian trade district of Yabaolu. (File) - Sputnik International, 1920, 30.12.2022
MOSCOW (Sputnik) - Russia and China will have a record-high turnover by the end of 2022, and the trade growth will be up to 30%, Russian Federal Customs Service First Deputy Head Ruslan Davydov has said in an interview with Sputnik.
"This year, there will be a record-high turnover with China - an increase of up to 30%. With India, there will be a very large increase in turnover by more than 2.5 times, with Iran - by 20%," Davydov said.
There has been an increase in cargo traffic on all modes of transport on the Chinese-Russian border, "even compared to pre-COVID times: both at road border checkpoints and ports," the official said.
"The number of containers under customs control exceeds all historical records," Davydov added.
Davydov said that the main factor limiting Russia's trade with China is insufficiently developed infrastructure.
The head of the Federal Customs Service of Russia, Vladimir Bulavin, said in November that the country's trade with China could grow by 27% to $160 billion in 2022.
Chinese Ambassador to Russia Zhang Hanhui told Sputnik last week that the volume of Chinese exports to Russia amounted to $67.34 billion, an increase of 13.4 percent, and China's imports from Russia amounted to $105.07 billion, an increase of 47.5 percent.
He said that in 2022, China and Russia overcame a number of unfavorable factors in their trade and economic cooperation. In particular, in February, the parties signed a road map for the high-quality development of Sino-Russian trade in goods and services, which outlines the path to achieve the set goals in bilateral trade.
The leaders of Russia and China earlier set the goal to double bilateral trade, bringing it from $100 billion a year to $200 billion by 2024. The $100 billion mark was reached in 2018.
After talks between the leaders in Beijing on February 4, Chinese President Xi Jinping outlined a new goal to increase Russia-China trade to $250 billion a year.
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