Russia counts China trade losses from coronavirus

Russian exports to China have been hit hard by the new coronavirus, which curbed demand and the movement of people and goods, official figures showed Friday.

Exports to China fell by nearly 34 percent from January 1 to February 19, according to Russian customs service data sent to AFP.

Trade in grain, minerals, animal fats and vegetable oil and especially hydrocarbons have been affected, with exports shifting into lower gear as the Chinese economy slows.

Finance Minister Anton Siluanov told RBK daily Thursday that the fall in China-Russia trade amounted to one billion rubles per day ($15.5 million). Russian imports from China have remained stable, but Beijing is exporting more electronics and less fresh produce, the customs figures showed.

This week, Russia's agricultural watchdog Rosselkhoznadzor banned imports of Chinese meat products such as sausages and offal. Media in Russia's Far East reported that Chinese fruit and vegetables have vanished, and the price of remaining produce has risen sharply.

China is Russia's largest economic partner with trade amounting to $110 billion in 2019. Moscow aims to increase that figure to $200 billion by 2024.

Moscow on Thursday banned all Chinese citizens from crossing into Russia to prevent the spread of the COVID-19 virus.

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