BIZCHINA / Trade Surplus
Russia to see trade deficit with China in 2007
(Agencies)
Updated: 2007-06-27 11:00
Russia is expected to run a deficit in its trade with China this year,
Russian Trade Representative to China Sergei Tsyplakov said recently.
"We need to be ready to see a deficit this year for the first time in the
history of Russian-Chinese trade and business relations," he said.
"Chinese statistical reports for the first five months of the year put
Russia's surplus in trade with China at only $50 million, while Russian
statistical reports indicate that the surplus has disappeared," Tsyplakov
said.
"Nothing beyond our expectations has happened in trade between the two
countries. Trade has been developing. Trade turnover grew by 30.6% over
the first five months of 2007 year-on-year," the official said.
However, "one has to admit that Chinese exports to Russia currently act
as the primary driving force in Russian-Chinese trade," he said.
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