VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
According to the Main Customs Administration of the People's Republic of China, in 2007 the turnover of the Russian-Chinese trade amounted to over $48 billion, which is 44.3% higher than in the previous year. Russia takes up 2.22% in the total Chinese turnover. Chinese exports to Russia increased by 79.9% up to $28.5 billion, whereas the import of Russian commodities rose by only 12.1% up to $19.7 billion.
The high turnover increase rate is mainly determined by the rapid rise in Chinese exports to Russia.
Oil and oil products are the first place in the structure of Russian exports to China, taking up 47.48% ($9.3 billion) of the total export value in 2007. From January to December 2007, Russia exported 14.53 million metric tons of crude oil to China, which is 9% less than in 2006. Within the period under report, Russia's part in the Chinese crude oil import (163.16 million metric tons) was 8.91%, or 1.09% less than in the previous year. In this area, Russia has the fourth place after Saudi Arabia (16.14%), Angola (15.32%) and Iran (12.59%).
Timber and timber products are in second place in the structure of Russian exports to China and amount to 15.17% ($2.98 billion) of all Russian exports. In comparison to 2006, the timber supply rose by 38% in value terms while its physical size increased by 17.3%. 37.4% of the timber imported to China comes from Russia. 25.39 million cubic metres (up 16.4%) of round timber was delivered to China worth $2.70 billion (up 37.5%). In comparison to 2006, the portion of timber rose by 2.87% in the total value of Russian exports to China.
Chemical products and fertilisers made up 12.62% ($2.5 billion) in the total value of Russian exports to China in 2007, which is 0.51% more than in the previous year. The size of the supply, however, reduced by 7.8% down to 4.7 million metric tons.
Fish and seafood make up 99% of agricultural products exported by Russia to China, worth $1.3 billion (up 10.4%), while in the total export volume they make 6.8% (down 0.1%). Russia's fish and seafood portion in the total Chinese import of these products is 38.6%.
The last of the five main export points is metals and metal products. In 2007, the cost of metals supplied to China amounted to $1.3 billion, which is 6.77% (up 0.37%) of the whole export of Russian products to China. Nickel makes up to 54% of the metals exported by Russia ($734.9 million).
Machinery took 1.3% ($256 million) of Russia's exports to China in 2007, which is 0.1% more than in 2006 (17.9% more in value terms).
China's exports to Russia are steadier and more varied. Different types of machinery and equipment, cars, and industrial products including ferrous metallurgy play an important part in it.
Textile products are still in the first place in terms of volumes - 32.8% (up 5.6%) of the whole Chinese exports to Russia or $9.4 billion with more than half (68.5%) taken by knitted fabric items.
Exports of electronics and engineering products keep rising, making up 30.6% of the Chinese export to Russia worth $8.7 billion (up 90%). Chinese car exports are the quickest to rise - last year their cost more than tripled in comparison with 2006 results (up 227%).
In 2007, metals and metal products took up 8.26% ($2.4 billion) of the Chinese exports to Russia. It has to be noted that 70% ($1.7 billion) were taken by ferrous metals with their part in the Chinese export to Russia rising by 4.06% in comparison with 2006. In value terms, the import of ferrous metals from China increased by 182.6% and the import of ferrous metals products, by 131.4%.
