China's Imports from Russia Experience First Drop in Wartime, Including Oil and Copper

Russian exports to China experienced a decline in July 2023, marking the first drop since the country's invasion of Ukraine in February 2022. Chinese imports from Russia decreased by 8% compared to the previous year, totaling $9.2 billion. Overall, China's monthly imports shrank by 12.4%. In contrast, Chinese exports to Russia grew by 52% in July. Despite the decline, China remains Russia's largest trade partner, with trade between the two countries reaching a record $191 billion in 2022.