Trade value between Russia & China was over $110 billion in 2020, increasing tenfold since 2002.
Exactly how deep is this economic relationship? Scroll through this thread for three more critical charts showing the goods that flow between these borders.
Exactly how deep is this economic relationship? Scroll through this thread for three more critical charts showing the goods that flow between these borders.
Russia relies on China primarily for:
➡️electronic equipment
➡️machinery
➡️nuclear reactors.
These made up the bulk of China’s exports to Russia in 2020. In total, China exported over 34 billion USD worth manufacturing goods to Russia in 2020.
➡️electronic equipment
➡️machinery
➡️nuclear reactors.
These made up the bulk of China’s exports to Russia in 2020. In total, China exported over 34 billion USD worth manufacturing goods to Russia in 2020.
When we followed China’s money to Russia, it led us to fuel. Nearly 30 billion dollars worth of mineral fuels and oils flowed from Russia to China in 2020. Natural resources clearly drive Russia’s contribution to this trade relationship.
Russian oil company Rosneft started invoicing in euros in 2019, meaning that oil, Russia's main export to China, was traded through euros instead of dollars.
This chart shows how the euro has been replacing dollars in Russian exports to China.
This chart shows how the euro has been replacing dollars in Russian exports to China.
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