Davıdov stated in an interview with the Russian news agency RIA Novosti that the trade volume between Russia and China has increased "significantly." He pointed out that Russia's trade with the European Union (EU) continues to decline, saying, "This is certainly a predictable situation because the EU market (Russia) has closed itself off."
Davıdov cited changes in Russia's foreign trade, using the example of the automotive market, saying, "China has a 92% share of Russia's automotive imports in the first 8 months of this year. Europe has closed in this regard, suspending sales."
According to data from the Russian-based Autostat, new car sales in the country increased by 160% in August compared to the same period last year, reaching 109,700 units.
Avtovaz is the company with the largest share of new car sales, while the Chinese company Chery is in second place.
Many Western car companies had announced the suspension of their activities in Russia due to the Russia-Ukraine conflict.
