Russia-China trade skyrockets in first half of 2026

Trade between Russia and China increased sharply during the first six months of 2026, underscoring the growing economic ties between the two countries as Moscow continues to rely more heavily on Beijing following its full-scale invasion of Ukraine.

According to The Moscow Times, citing official figures from Russia’s trade mission in China, bilateral trade reached $134.2 billion between January and June, a 25.6% increase compared with the same period last year.

Exports rebound

Russian exports to China rose 23.3% year-on-year to $73.6 billion during the first half of 2026, while imports from China climbed 28.4% to $60.6 billion, leaving Russia with a trade surplus.

According to The Moscow Times, the growth follows a weaker 2025, when trade between the two countries declined for the first time in five years amid lower Chinese vehicle exports to Russia and reduced Russian oil revenues.

Last month, President Vladimir Putin said bilateral trade had continued to grow at a “steady” pace and expressed hope that the momentum would continue during talks with Chinese Vice President Han Zheng at the St. Petersburg International Economic Forum.

Closer partnership

China’s overall foreign trade also expanded during the first half of 2026, with official customs data showing total trade rising 21.2% to $3.67 trillion. Exports increased 17.6% to $2.13 trillion, while imports grew 26.6% to $1.55 trillion.

According to The Moscow Times, Russia and China have significantly strengthened their political and economic partnership since the start of Russia’s full-scale invasion of Ukraine in 2022. As Western sanctions have limited Moscow’s access to traditional markets, Russia has become increasingly dependent on China as a buyer of its oil exports.

Sources: The Moscow Times

This article is made and published by Lauge Risom Koch, who may have used AI in the preparation