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Chinese exports were down nearly 10% in December (minus 7.5% for imports), while activity was slowed by the wave of Covid which followed the relaxation of health policy. Only the growth of trade with Russia remained stable.
With our correspondent in Beijing, Stephane Lagarde
Global trade with Russia recorded the strongest increase last year on the Chinese side. Just last month, exports from Made in China in the Russian neighbor increased by 8.26%, + 8.3% for imports. It is moreover the products coming from Russia, starting with hydrocarbons, which have benefited the most from Sino-Russian friendship “solid as a rock”.
According to Chinese customs, imports increased by 43.4% last year, 12.8% for exports, to reach more than 175 billion euros. A “hand in hand” between Beijing and the Kremlin that could end up wearing out. ” Putin is crazy “, recently confided a Chinese official to the Financial Times.
► To read also: China-Russia: an economically stronger but still imperfect relationship
The European Union, the largest trading partner
But while waiting for Xi Jinping to finally pick up his phone to call his Ukrainian counterpart, Sino-Russian trade is growing faster than trade with the United States, which remains at its 2021 level, +0.6% over one year.
Outraged the epidemic wave, the weakening of global demand is also reflected directly in the figures. Chinese exports to the United States fell 19.51%, fell 17.5% to Europe also last month. The European Union remains China’s largest trading partner, behind the Association of Southeast Asian Nations.