Sino-Russian trade turnover to exceed $110 bln record in 2019

Trade turnover between Russia and China may set a new record and exceed $110 bln by the end of this year if the current dynamics persists, Spokesman for China’s Commerce Ministry Gao Feng told a press conference on Thursday.

“Trade turnover exceeded $100 bln in January-November period as it increased by 3.1% in annual terms. If that dynamics persists it (trade turnover) will exceed $110 bln in 2019 setting a new record,” he said.

In 2016, Russia-China trade turnover grew by 2.2% in annual terms to $69.52 bln. In 2017, it surged by 20.8% year-on-year to $84.07 bln, while in 2018 it gained 27.1% to over $107 bln.

Russian President Vladimir Putin said at the BRICS summit in November that the task of boosting Sino-Russian trade turnover to $200 bln is realistic. The relevant departments of the two countries have been tasked with drafting a plan to reach that goal, he added.