According to a Sputnik investigation, China's trade surplus surged by 30% last year (2022), reaching an all-time high of $877.6 billion.
Russia climbed to second place among major countries after growing its surplus by 1.7 times over the year to a record $333.4 billion. Saudi Arabia finished third, with a $221.3 billion trade surplus, the most since 2012 according to
import export data.
Canada had the biggest increase in trade surplus growth in 2022, increasing 4.8-fold from $3.65 billion to $17.45 billion. At the same time, Nigeria was the only country last year to turn its trade deficit into a surplus.
In 2022, 26 major economies had a trade surplus of $2.45 trillion, compared to 32 nations with a $2.1 trillion surplus the previous year.
Trade Doubled in 2022 between Russia and China
At his meeting with Chinese President Xi Jinping, Russia's Prime Minister declared that Moscow and Beijing's bilateral trade will be doubled to $200 billion by 2023.
"Mutual trade climbed by about a third last year, approaching $190 billion. I am confident that we will meet the goal of $200 billion in trade established by you (Chinese President Xi Jinping) and Russian President Vladimir Vladimirovich Putin this year "Mikhail Mishustin said.
According to Chinese customs data, bilateral trade between China and Russia rose 34.3 percent year on year in 2022, reaching a historic high of 1.28 trillion yuan ($190 billion) in yuan-denominated terms. This market expansion is fueled by improved relations, an increase in energy cooperation, and a broader opening of the market.
