15.07.2026 Analytics #Russia #China #Import #Export #Statistics

Russia–China trade jumps 25.6% to $134.17bn in H1 2026, GACC reports

China's General Administration of Customs (GACC) released bilateral trade data with Russia on July 14, 2026: two-way trade for January–June 2026 reached $134.17 billion, up 25.6% year on year (alta.ru, eastrussia.ru).

Exports, imports and the June snapshot

Chinese exports to Russia for the half-year totaled $60.60 billion (+28.4%), while Chinese imports from Russia reached $73.58 billion (+23.3%) (alta.ru). In June 2026 alone, bilateral turnover was $24.35 billion, with Chinese exports to Russia at $11.43 billion and Russian shipments to China at $12.92 billion (alta.ru, ng.ru).

A surplus that keeps favoring Russia

The trade balance continues to favor Russia: exports exceeded imports by roughly $13 billion for the half-year, reflecting the dominance of energy and raw materials in Russian shipments (ng.ru). In May 2026 Russia remained China's largest crude oil supplier, accounting for about 25% of China's oil imports (iz.ru). By comparison, China's total foreign trade grew 21.2% in H1 2026 to $3.675 trillion, with ASEAN trade up 22.5% to $626.142 billion and EU trade up 14.2% to $447.881 billion — meaning Russia's growth rate significantly outpaced China's overall trade expansion (iz.ru).

Implications for trade participants

For importers of Chinese goods, the accelerating flow signals rising pressure on eastern logistics capacity — rail border crossings, Far East ports and road checkpoints — which could translate into longer customs clearance and transit times as volumes climb. Exporters of raw materials and energy to China should note that their shipment growth (+23.3% for the half-year) is already outpacing China's overall import growth, intensifying competition for logistics slots and continuing to reshape pricing dynamics on the Asian route. For brokers and settlement participants, payment channels and banking compliance remain a live issue as the share of trade settled in national currencies grows alongside volumes.

A volatile multi-year trajectory

The 2026 acceleration contrasts with last year's trend: full-year 2025 bilateral trade fell 6.9% to $228.1 billion, according to Chinese customs data, amid the threat of US secondary sanctions in 2024. The recovery has been gradual — Q1 2026 growth was 12%, January–May growth reached 22.9%, and the H1 figure accelerated further to 25.6% (lenta.ru). Whether this pace holds in the second half will depend on the sanctions environment and both countries' ability to expand logistics throughput.

Primary sources

• Товарооборот Китая и России за полгода вырос на 25,6% — Альта-Софт
• Товарооборот России и Китая вырос на 25,6% за полгода — Известия
• Товарооборот Китая и России за полгода вырос на 25,6% — Независимая газета
• Товарооборот России и Китая вырос на четверть и превысил $134 млрд — EastRussia
• Товарооборот России и Китая резко вырос — Lenta.ru

This material is for information only and does not constitute legal advice or customs consulting. Verify changes against the primary sources before acting.