How much do India Russia China trade and what goods do they buy?

Описание: How much do India, Russia, China trade and what goods do they buy?
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The Shanghai Cooperation Organisation summit highlights a growing alignment among non-Western nations. China, India, and Russia, key members of this bloc, saw their combined trade in goods reach $452 billion in 2023. This economic partnership is gaining prominence as these nations increasingly challenge US-led global institutions and respond to US trade policies.

China's export landscape is dominated by the US, which imported $442 billion in 2023, primarily electronics and machinery. Regionally, Asia is China's largest market, with India alone importing $120 billion. Europe also represents a significant market, with Germany, Russia, and the UK being major buyers.

The United States is also India's top export destination, with $81.4 billion in goods purchased in 2023, mainly pharmaceuticals and precious stones. Asia remains a key region for Indian exports, followed by the UAE and the Netherlands. Notably, India's trade relationship with Russia has intensified, particularly with India's continued purchase of discounted Russian oil, a move that has drawn US tariffs.

Following international sanctions after the Ukraine invasion, Russia's trade has shifted significantly towards Asia. China is now Russia's largest trading partner, accounting for approximately one-third of its exports, with India and Turkiye following. Russia's exports to China are heavily weighted towards energy products, while Russia's imports from China are led by machinery and transport equipment. India imports substantial amounts of Russian energy products, contributing to a significant trade deficit with Moscow. India's exports to Russia, though smaller, are more diversified, including chemicals and metals. India, however, maintains a considerable trade deficit with China, importing significantly more in machinery and chemicals than it exports in oil and fuel-related products. If you like our content, don't forget to like and subscribe to our channel, NEWS TODAY.
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