According to the General Administration of Customs of China, trade turnover between Russia and China reached $134.17 billion in the first half of 2026, marking a 25.6% increase year-on-year. Russian exports, primarily driven by oil shipments, totaled $73.6 billion, while imports from China reached approximately $60.6 billion, consisting mainly of machinery, equipment, and high-tech products.
Over the 25 years since the signing of the Treaty of Good-Neighborliness, Friendship and Cooperation, bilateral trade turnover has grown more than thirtyfold. Since 2010, China has remained Russia’s largest trading partner, while Russia ranks among China’s top five trading partners. For three consecutive years, bilateral trade has consistently exceeded $200 billion.
Russian Ambassador to China Igor Morgulov expressed confidence that the volume of Russian-Chinese trade could soon reach $300 billion per year. “Since 2023, we have been annually reaching the bar of over $200 billion and surpassing it by a solid margin. I believe the $300 billion mark is also quite realistic and could be reached in the foreseeable future,” the diplomat said in an interview with China Central Television.
Russian Foreign Minister Sergey Lavrov, in an article marking the 25th anniversary of the treaty, noted that the document has established a robust institutional framework for the qualitative enhancement of trade and economic relations. “The economies of our respective states are intrinsically complementary. Indeed, the figures speak for themselves,” he stated.
The positive trend is also confirmed by data for the first five months of 2026, with trade turnover increasing by nearly 23% compared to the same period last year. Experts attribute this growth to several factors: the continued implementation of long-term energy supply contracts, expanding industrial cooperation, and the active development of transport and logistics corridors.
Sergey Katrin, President of the Russian Chamber of Commerce and Industry, noted that Russian-Chinese trade is entering a new level of maturity. “In 2025, trade turnover amounted to about $228 billion. In the first quarter of 2026, trade grew by another 14.8%,” he emphasized. Katrin added that the next stage of development is associated with increasing supplies of Russian high-value-added products and strengthening market positions in China.
The new agreement on the promotion and protection of investments, signed and ratified last year, is designed to further stimulate investment cooperation between the two countries. The parties are also continuing work to expand access for Russian products to the Chinese market, including agricultural and livestock goods.
