Caixin
Apr 13, 2022 06:52 PM
ECONOMY

China’s Exports to Russia Slump in the Wake of War in Ukraine

Shipping containers cover the Kwai Tsing Container Terminals in Hong Kong. Photo: Bloomberg
Shipping containers cover the Kwai Tsing Container Terminals in Hong Kong. Photo: Bloomberg

(Bloomberg) — China’s exports to Russia slumped in March after the start of the war in Ukraine even as shipments to other nations grew quickly, indicating Chinese companies are likely being cautious about trading with Russia.

Chinese firms sold $3.8 billion worth of goods to Russia in March, official data showed Wednesday, a 7.7% drop from a year earlier. That was the lowest amount since May 2020, when global trade was badly affected by the outbreak of Covid-19.

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