Chinese trade grows by 11% in July, with trade with Russia rising

China's trade volume rose 11% in July from a year earlier to $564.66 billion (€554.553 billion), totalling $3.6 trillion (€3.57 trillion) in the first seven months of 2022, according to dollar data from China's General Administration of Customs, which reflected strong growth in China-Russia trade relations. 

Chinese exports totalled $332.96bn (€327bn) in July, up 0.7% month-on-month and 18% compared to the same month in 2021, in the face of easing restrictions imposed to contain COVID-19. 

The Asian giant's purchases abroad reached a total value of 231.7 billion dollars (227.553 billion euros), a figure that represents a monthly decline of 0.7%, but an increase of 2.3% in the year-on-year comparison. 

China's trade surplus in July stood at 101.26 billion dollars (99.47 billion euros). 

Thus, in the first seven months of 2022, China's trade totaled $3.64 trillion (€3.57 trillion), 10.4% higher than in the equivalent period of 2021. 

China's exports between January and July totalled $2.06 trillion (€2.02 trillion), up 14.6%, while imports rose 5.3% to $1.58 trillion (€1.55 trillion). 

On the other hand, information from China's General Administration of Customs reveals that during the month of July the Asian giant increased its trade with its Russian neighbour by 37% year-on-year, to 16.79 billion dollars (16.489 billion euros).

Specifically, China exported $6.77 billion (€6.648 billion) to Russia, 22.2% more than in July 2021, while imports from Russia reached a value of $10.019 billion (€9.839 billion), 49% more than a year earlier. 

Thus, in the first seven months of 2022, trade between China and Russia increased by 29% to $75.489 billion (€74.138 billion). 

Chinese exports to Russia up to July totalled 36.266 billion dollars (35.617 billion euros), up 5.2%, while purchases from the Eurasian giant increased by 48.8% to 61.447 billion dollars (60.347 billion euros).