China's Exports to Russia Decline for First Time in Months
BEIJING (Reuters) - China's yuan-denominated exports to Russia fell at a double digit pace in November, worsening sharply from 24% growth in October and marking the first decline in four months, Chinese customs data showed on Tuesday.
Outbound shipments to Russia shrank 10.5% last month from a year earlier, the first drop since July.
Imports from Russia fell 7.4% in yuan terms last month, worsening from a 4.3% loss in October.
The customs agency did not give data breakdown on products sold to or bought from Russia on Tuesday.
Russian President Vladimir Putin said on Dec. 4 that the primary challenge to Russia-China trade was mutual payment settlements, and the central banks of both countries were working to address the issue.
Last month, a manufacturer of Philips, Sharp and Sony televisions listed in China halted work at its Russian factory near St Petersburg due to payment problems with foreign suppliers for spare parts, the plant told Reuters.
Two-way trade value came at 145.9 billion yuan ($20.14 billion) in November, down 5% from October.
($1 = 7.2430 yuan)
(Reporting by Beijing newsroom; Editing by Bernadette Baum)
