How much trade in India, Russia and China and what goods do they buy? | International Trade News

More than 20 non -Western countries in Tianjin, China during the weekend of the Shanghai Cooperation Organization (SCO) gathered summitWhich ended on Monday, and in the matter in which President Xi Jinping identified his vision of a global economic system with the global south in its position.

Against the background of the new global definitions imposed by US President Donald Trump, Shi told: “We must continue to take a clear position against the policy of domination and power, and the practice of real pluralism.”

The summit collected some of the most powerful emerging economies, including India and Russia, which, along with China, represents more than one -fifth of GDP in the world (GDP).

The tripartite trade between China, India and Russia formed $ 452 billion in 2023, an increase of 351 billion dollars in 2022, according to the Economic Summary Observatory (OEC).

It is seen as the structure of an alternative authority for most of the United States -led international institutions, which are 10 members Sco It includes many Central Asia, Russia, China, India, Iran, Pakistan and Belarus, and it represents about 43 percent of the world’s population and 23 percent of global GDP.

Beijing’s pushing for pluralism comes at a time of his grievance with Washington, which provided policies of the collective tariffs of Sco members common to work on.

What countries buy more than China?

China has a variety of commercial partners.

Its largest buyer is the United States, which imported $ 442 billion, or 12.9 percent of China’s total exports in 2023 – consisting mainly of electronics, machines, consumer goods and communication equipment.

At the regional level, Asia is the main destination for China’s exports, as it represents $ 1.6 trillion of goods, with India alone receives $ 120 billion, or 3.1 percent of China’s total exports.

In Europe, China exported the goods worth $ 819 billion, as the main destinations in Germany ($ 151 billion), Russia ($ 110 billion) and the United Kingdom (95.3 billion dollars) were.

What countries buy more than India?

The United States is also the largest buyer of Indian goods.

In 2023, the United States bought $ 81.4 billion, or 17.9 percent of India’s total exports, most of which are drugs and pharmaceutical products, followed by precious stones, machinery and textiles.

At the regional level, Asia is also the main destination for exports in India, as it represents $ 178 billion of goods, with the United Arab Emirates the second largest destination in India for exports, at a price of $ 31.4 billion, or 6.9 percent of the total exports in India, especially jewelry and refined oil.

The Netherlands is the third largest export market in India at $ 22.5 billion, with refined oil the largest export element, at a value of $ 15 billion. China is the fourth largest export market in India and the second largest market in Asia.

On August 6, US President Donald Trump Declare A 50 percent tariff for Indian imports, citing continuing to buy India from Russian rough crude oil as a major cause.

In response, India expressed its strength rejectionHe described the definitions as “unfair, unjustified, and unreasonable”, and reaffirmed her sovereign right to identify their energy policies independently. Despite the pressure of the United States, India continued to import Russian oil, which is attracted by large discounts offered by Moscow.

What countries buy more than Russia?

Before the Ukrainian war, the commercial partners in Russia were more diverse.

While China was its largest commercial partner, as it represented 14.6 percent ($ 72.1 billion) of Russian exports in 2021, according to the Economic Summary Observatory (OEC), Russia also had a wide range of European partners. The Netherlands was the second largest partner in Russia, with a total exports of $ 8.5 billion (39.5 billion dollars), followed by the United States with 5.5 percent (27.3 billion dollars).

After Russia’s invasion of Ukraine in February 2022, severe sanctions were sharply reduced with many Western countries.

By 2023, China formed about a third (129 billion dollars) of Russia’s exports, followed by India by 16.8 percent (66.1 billion dollars) and left 7.9 percent ($ 31 billion), according to the Asian regions, making the largest recipient of Russian goods, with more than three areas of Russia.

What is China and Russia trading more?

In 2023, China exported $ 110 billion goods to Russia, led by machinery and transport equipment. According to the Organization for Economic Cooperation and Development, the most important export materials from China to Russia were cars.

In the same year, Russia sold $ 129 billion of goods to China – most of them are metal products, including oil and natural gas.

In recent years, Russia has managed a commercial surplus with China, mostly due to energy products, which constitute nearly three quarters of its exports.

What is India and Russia trading more?

India runs a major commercial deficit with Russia, as it imports much more than it is issued.

in 2023Russia sold 66.1 billion dollars from goods to India, with energy products – primarily crude oil and natural gas – constituting about 88 percent of these imports, many of which buy them at a reduced rate.

India’s exports to Russia are more diverse, with a total of $ 4.1 billion in 2023, with great contributions of chemical products, machinery and minerals.

What is China and India more traded?

India runs a major commercial deficit with China, as it imports about seven times the goods of the dollar more than exporting it.

In 2023, China exported $ 125 billion goods to India, especially chemical products and products, while India has exported $ 18.1 billion goods to China, with oil -related products and fuel that includes the largest share of its exports.