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China’s Exports to Russia Slump After Ukraine Invasion

  • Exports dropped 7.7% in March even as total shipments rose
  • Imports rose 26.4%, with rising energy prices likely a factor
Updated on

China’s exports to Russia slumped in March after the invasion of 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.