China-Russia trade volume has dropped to the lowest level since 2022, and the number of China-Europe freight trains has decreased for three consecutive months ! ( Source: Train Consultancy, Exploring the New Silk Road April 23, 2025 16:33:47 )

In the first quarter of this year, trade between China and Russia decreased by 7%. This is the lowest level since 2022. China's exports of goods to Russia decreased by 7%, while its imports of energy commodities from Russia dropped by 16%.

According to the Russian newspaper Rossiyskaya Gazeta, in the first quarter of 2025, trade between China and Russia decreased by 7% to 53.2 billion US dollars, the lowest level since the second quarter of 2022. China's exports of goods to Russia decreased by 7% to 22.7 billion US dollars. Among them, the export volume in February was 5.8 billion US dollars, the largest decline.

China's purchase of Russian energy commodities, which accounted for three-quarters of Russia's total exports to China, decreased by 16 billion US dollars to 20.2 billion US dollars.

Due to economic slowdown and reduced market demand, Russian importers are reducing their purchases of Chinese electronic products and household appliances. Currently, the annual interest rate for consumer loans in Russia is almost 40%, which greatly suppresses the consumption willingness of Russian consumers.

Russian retailers and suppliers are struggling with a lack of working capital, which limits their purchasing options. As a result, in the first quarter of 2025, Russian importers' imports of household appliances and electronic products from China decreased by 30%.

Corresponding to the decline in China-Russia trade volume, the number of China-Europe freight trains and their freight volume also declined in the first quarter of this year.

With the decline in purchasing power and market demand in Russia, the operation of China-Europe freight trains has been significantly affected. Although the number of return trips and imports have increased, they are still unable to offset the overall downward trend.

According to data from the National Railway Group, the number of China-Europe freight trains has decreased for three consecutive months year-on-year. In the first quarter, a total of 4,250 China-Europe freight trains were operated, a year-on-year decline of 6.4%, and a total of 445,800 TEUs were sent, a year-on-year decline of 9.7%.

In March this year, a total of 1,592 China-Europe freight trains were operated in both directions, a year-on-year decrease of 1.3%; 164,800 TEUs of goods were sent, a year-on-year decrease of 7%. 

Among them, 759 eastbound trains were operated, a year-on-year decrease of 16.3%; 76,300 TEUs were sent, a year-on-year decrease of 22.5%; 833 westbound trains were operated, a year-on-year increase of 18%; 88,500 TEUs were sent, a year-on-year increase of 12.3%. 

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