Sino-Russian Trade Hits Record High in 2025 Despite Early-Year Slump
- How Did Sino-Russian Trade Perform in July 2025?
- What's Driving the Trade Imbalance?
- Why Are Energy Exports Crucial?
- How Has the Trade Relationship Evolved?
- What Does This Mean Amid U.S. Tariff Threats?
- Frequently Asked Questions
In a surprising rebound, trade between China and Russia surged to a yearly peak in July 2025 after a sluggish first half, reaching $19.14 billion—an 8.7% monthly increase. While year-to-date figures still lag behind 2024 levels, the sudden uptick defies U.S. pressure as both nations defiantly maintain energy imports from Russia. Here's why this economic alliance keeps strengthening despite geopolitical headwinds.
How Did Sino-Russian Trade Perform in July 2025?
The latest customs data reveals a tale of two trends: July's bilateral trade hit $19.14 billion, marking the highest monthly volume this year with an 8.7% jump from June. However, the January-July cumulative total of $125.8 billion represents an 8.1% decline compared to the same period in 2024. Digging deeper, July's year-on-year figures actually dipped by 2.8%, suggesting the recovery might be more seasonal than structural.
What's Driving the Trade Imbalance?
The trade Flow shows stark asymmetry—China's imports from Russia grew 4.02% annually to $10.1 billion in July, while exports to Russia plummeted 8.91% to $9.1 billion. By end-July, Russia maintained a $13.34 billion surplus, nearly identical to 2024's level. "This reflects China's insatiable appetite for Russian energy," notes a BTCC market analyst. "While Russian consumers are buying fewer Chinese goods due to currency pressures."
| Metric | July 2025 | YoY Change |
|---|---|---|
| Total Trade | $19.14B | -2.8% |
| China Imports | $10.1B | +4.02% |
| China Exports | $9.1B | -8.91% |
Why Are Energy Exports Crucial?
Crude oil, gas, and coal dominate Russia's export basket to China, supplemented by copper ore and timber. In 2024, Russia shipped a record 108.5 million tonnes of crude—nearly 20% of China's total oil imports. Though Ukrainian intelligence reports a July 2025 dip below 4 million tonnes, China's Foreign Ministry remains defiant: "Our energy cooperation with Russia is legitimate and serves national interests," they told Bloomberg.
How Has the Trade Relationship Evolved?
The partnership has grown exponentially—from $240.11 billion in 2023 (26.3% growth) to over $244 billion in 2024. "It's a marriage of convenience," observes a TradingView economist. "China gets discounted resources, Russia gets an economic lifeline." The trade now spans beyond energy—China exports everything from EVs to smartphones, while Russia supplies raw materials critical for China's manufacturing.
What Does This Mean Amid U.S. Tariff Threats?
With President TRUMP hinting at China tariffs mirroring the 25% levy imposed on India for buying Russian oil, Beijing's stance appears unshaken. Like India, China has publicly committed to continuing Russian energy imports. "The U.S. dollar's weaponization is pushing rivals closer together," remarks a geopolitical risk consultant. "These trade figures are as much about economics as they are about signaling."
Frequently Asked Questions
What was the total Sino-Russian trade volume in July 2025?
July 2025 saw $19.14 billion in bilateral trade, an 8.7% increase from June but 2.8% lower than July 2024.
Which Russian exports to China are most significant?
Energy products dominate—crude oil (108.5M tonnes in 2024), natural gas, and coal, followed by copper ore and timber.
How has China responded to U.S. tariff threats?
China's Foreign Ministry stated its energy trade with Russia is "legitimate and lawful," vowing to continue cooperation despite U.S. pressure.
