What products from China are flowing in large quantities to Russia?
According to customs statistics, in 2022, China's imports and exports to Russia amounted to 1.28 trillion yuan, accounting for 3% of China's total foreign trade import and export value. In terms of scale, China Russia trade maintained steady growth in 2022, with bilateral trade reaching a new high. In 2018, the trade volume between China and Russia exceeded the $100 billion mark for the first time. In 2021, the bilateral trade volume between China and Russia reached 146.887 billion US dollars, reaching 948.66 billion yuan in Chinese yuan. This is the 12th consecutive year that China has remained Russia's largest trading partner.
Market analysis suggests that considering the stagnation of imports from Europe, it is expected that more Chinese goods will flow to Russia, mainly Chinese consumer electronics, excavators, cars, microprocessors, clothing, shoes, and daily necessities. Russia has significantly increased its procurement of electronic products and cars made in China, but the growth potential in this area is still considerable as these goods are still in short supply in the Russian market.
It is reported that Russian e-commerce enterprises have experienced significant growth in their business fundamentals in 2022, while the infrastructure of e-commerce logistics has also been improved.
There are reports that due to the large geographical span and weak light industry in Russia, many small and medium-sized cities and regions do not have a very complete supply system and a single category of daily necessities. Especially under the influence of the epidemic, most Russians have shifted from their usual offline purchases to online selection. According to the statistics of Similarweb consulting company in Russia, in 2019, there were approximately 93 million online users in Russia, with 76% of residents over the age of 12. According to statistics on online consumption between the ages of 16 and 55, at least half of people make purchases online.
It is understood that 90% of sellers in Russia's cross-border e-commerce business come from China, and the sales volume of Russian e-commerce platforms from China increased tenfold in the third quarter of 2022.
Market analysis suggests that considering the stagnation of imports from Europe, it is expected that more Chinese goods will flow to Russia, mainly Chinese consumer electronics, excavators, cars, microprocessors, clothing, shoes, and daily necessities. Russia has significantly increased its procurement of electronic products and cars made in China, but the growth potential in this area is still considerable as these goods are still in short supply in the Russian market.
It is reported that Russian e-commerce enterprises have experienced significant growth in their business fundamentals in 2022, while the infrastructure of e-commerce logistics has also been improved.
There are reports that due to the large geographical span and weak light industry in Russia, many small and medium-sized cities and regions do not have a very complete supply system and a single category of daily necessities. Especially under the influence of the epidemic, most Russians have shifted from their usual offline purchases to online selection. According to the statistics of Similarweb consulting company in Russia, in 2019, there were approximately 93 million online users in Russia, with 76% of residents over the age of 12. According to statistics on online consumption between the ages of 16 and 55, at least half of people make purchases online.
It is understood that 90% of sellers in Russia's cross-border e-commerce business come from China, and the sales volume of Russian e-commerce platforms from China increased tenfold in the third quarter of 2022.
