TRADE WARS
Russia counts China trade losses from coronavirus
by Staff Writers
Moscow (AFP) Feb 21, 2020

Russian exports to China have been hit hard by the new coronavirus, which curbed demand and the movement of people and goods, official figures showed Friday.

Exports to China fell by nearly 34 percent from January 1 to February 19, according to Russian customs service data sent to AFP.

Trade in grain, minerals, animal fats and vegetable oil and especially hydrocarbons have been affected, with exports shifting into lower gear as the Chinese economy slows.

Finance Minister Anton Siluanov told RBK daily Thursday that the fall in China-Russia trade amounted to one billion rubles per day ($15.5 million).

Russian imports from China have remained stable, but Beijing is exporting more electronics and less fresh produce, the customs figures showed.

This week, Russia's agricultural watchdog Rosselkhoznadzor banned imports of Chinese meat products such as sausages and offal.

Media in Russia's Far East reported that Chinese fruit and vegetables have vanished, and the price of remaining produce has risen sharply.

China is Russia's largest economic partner with trade amounting to $110 billion in 2019. Moscow aims to increase that figure to $200 billion by 2024.

Moscow on Thursday banned all Chinese citizens from crossing into Russia to prevent the spread of the COVID-19 virus.

Last year, 2.3 million Chinese citizens entered Russia including 1.5 million tourists.

The Association of Tour Operators of Russia has said the domestic tourism industry will lose at least 2.8 billion rubles in February and March and that the total could rise to 31.2 billion rubles if Chinese visitors stay away over the summer.

A fall in oil prices as China cuts back also threatens Russia, whose state budget is dependent on oil and gas. The price of Brent crude has dropped nearly $10 per barrel since the start of the year, when it was close to $70.


Related Links
Global Trade News

TRADE WARS
Foreign firms struggle to resume operations in virus-hit China
Beijing (AFP) Feb 18, 2020
Foreign firms are struggling to resume work in virus-hit China as they face disrupted supply chains, rising inventory and quarantine rules meant to contain the deadly epidemic, the EU chamber of commerce said Tuesday. With many pharmaceutical companies globally sourcing from China, pharmacies may also face a shortage of antibiotics and other drugs if the epidemic is not resolved soon, said Joerg Wuttke, president of the European Union Chamber of Commerce in China. Firms in China have seen a slow ... read more

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Fukushima staff could use raincoats as virus threatens gear production

Bushfire crisis hit 75% of Australians: survey

As China needs virus masks, phone and diaper makers fill void

Digital lifeline for refugees in Bulgaria -- and beyond

TRADE WARS
Cracks actually protect historical paintings against environmental fluctuation

Going viral: Demand for disease-themed movies and games explodes

Researchers develop smaller, lighter radiation shielding

Army researchers develop new method for analyzing metal

TRADE WARS
Hydropower dams cool rivers in the Mekong River basin, satellites show

Blasting 'forever' chemicals out of water with a vortex of cold plasma

Mussels 'cooked alive' in balmy New Zealand ocean

Coral reefs: Centuries of human impact

TRADE WARS
NASA flights detect millions of Arctic methane hotspots

Ancient Antarctic ice melt increased sea levels by 3+ meters - and it could happen again

Coincidences influence the onset and ending of ice ages

Antarctica registers record temperature of over 20 C

TRADE WARS
Survey: Most Americans say diet affects global warming 'a little'

Trans-Eurasian crop exchange began 3,000 years earlier than thought

US peach farmer wins $265 mln damages over Bayer, BASF herbicide

Climate change to create farmland in the north, but at environmental costs, study reveals

TRADE WARS
Oral traditions and volcanic eruptions in Australia

Donors pledge 1.15 bn euros for Albania quake recovery

Erupting Indonesian volcano spews ash, lava

There's a twist in the story of volcanism and mass extinctions, say CCNY researchers

TRADE WARS
Nigerian army torches homes across the country after attacks

S. Sudan 'unity' army not ready for peace as deadline looms

Belgium weighing French military mission in Mali: minister

U.S. shifts AFRICOM strategy as troops are 'overmatched' by militants

TRADE WARS
New Neanderthal skeleton unearthed from 'flower burial' site

Researchers were not right about left brains

'Ghost' of mysterious hominin found in West African genomes

Human language most likely evolved gradually