China’s yuan-denominated exports to Russia saw a double-digit decline in November, a sharp worsening from October’s 24% growth and marking the first decline in four months, customs data shows Chinese data published on Tuesday.
Shipments to Russia fell 10.5% last month from a year earlier, the first decline since July.
Imports from Russia fell 7.4% in yuan terms last month, worsening October’s 4.3% loss.
The customs agency did not provide details on products sold or purchased from Russia on Tuesday.
Russian President Vladimir Putin said on December 4 that the main obstacle to trade between Russia and China was the settlement of mutual payments, and that the central banks of the two countries were working to resolve this problem.
Last month, a China-listed maker of Philips, Sharp and Sony TVs halted work at its Russian factory near St. Petersburg due to payment problems with foreign parts suppliers, the factory told Reuters .
The value of bilateral trade stood at 145.9 billion yuan ($20.14 billion) in November, down 5 percent from October.
($1 = 7.2430 yuan)
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