Russia-China trade hits three-year low amid economic slowdown
Trade between Russia and China in the first quarter of 2025 fell by 7 percent, reaching the lowest level since 2022. Imports of Chinese goods to Russia decreased by 7 percent, and China's purchases of Russian energy resources dropped by 16 percent.
According to Chinese data, trade turnover between Russia and China in the first quarter of 2025 decreased by 7 percent, reaching a value of $53.2 billion, as reported on Tuesday by "Rzeczpospolita." This is the lowest level since the second quarter of 2022. Imports of Chinese goods to Russia fell by 7 percent, to $22.7 billion. The peak decline in deliveries occurred in February, when imports amounted to $5.8 billion.
China's purchases of Russian energy resources, which constitute three-quarters of Russia's entire exports to China, decreased by 16 percent, to $20.2 billion.
Russian importers are reducing purchases of Chinese electronics and household appliances due to the economic slowdown and decreased demand. The rise in consumer loan interest rates in Russia, reaching nearly 40 percent annually, discourages Russians from making purchases on credit.
Russian retailers and suppliers are struggling with a lack of working capital, which limits their purchasing ability, according to "Rz." As a result, imports of household appliances and electronics from China decreased by 30 percent in the first quarter of 2025.
In the summer, retailers will be selling off stockpiled inventory, and the future of the market depends on the central bank's policy regarding interest rates.
