BAKU, Azerbaijan, Apr. 26
Trend:
Trade turnover between China and the countries of the Shanghai Cooperation Organization (SCO) reached $245 billion in 2020, Li Kuiwen, spokesman for China’s General Administration of Customs (GAC), said.
Kuiwen made the remark at the opening ceremony of the SCO International Investment and Trade Expo in Qingdao, Shandong, eastern China on April 26, Trend reports referring to Kazinform.
According to him, the trade turnover between China and SCO member states grew from $17.14 billion in 2001 to $244.85 billion in 2020, with an average annual growth of 15 percent.
The spokesman noted that almost 80 percent of the total trade turnover between China and the SCO states accounts for Russia and India.
Besides, he informed that in the first quarter of 2021, trade turnover between China and the SCO states amounted to 457.24 billion yuan ($70.44 billion, increase of 19.2 percent on annual basis). At the same time, exports made up 284.83 billion yuan ($43.88 billion), and imports - 172.41 billion yuan ($26.56 billion).
Meanwhile, trade turnover between China and Kazakhstan grew by 24.5 percent compared to the same period last year, Uzbekistan – 24.3 percent, India - 33 percent, Pakistan - 29.7 percent, and Russia - by 7.5 percent.
From January through March 2021, trade turnover between China and Kyrgyzstan decreased by 35.4 percent, as well as China and Tajikistan – by 16.1 percent.
In terms of trade structure, the share of exports of electromechanical and high-tech products from China to the SCO member states increased, accounting for almost 75 percent of the total value of Chinese exports.