According to the association’s statistics, China’s exports to Russia in 2016 worth about 4.9 billion euros of mechanical casting and equipment, while the German machinery manufacturers last year, said the German machinery manufacturing industry association in Frankfurt (VDMA) Of the export of about 4.4 billion euros.
According to the German voice radio website reported on April 12, in the export of Russia on the issue, the current Chinese suppliers have obvious advantages, the Russian market machinery manufacturing industry association expert Monika Hora Hull said, “in the On this issue, China does not have to consider sanctions, and through the provision of loans to Russia to obtain economic benefits.
Statistics show that the “Made in Germany” machinery exporting country ranking, Russia has from the original fourth, down to 11th. Since 2012, Germany’s exports to Russia have been reduced by more than half.
Overall, China’s total machinery exports in 2016 was 132.2 billion euros, up 3.9 percent year on year. While China’s exports to the EU countries increased by only 0.4%. While exports to emerging countries are substantially reduced.
Experts said that last year China’s machinery exports to Brazil fell by 31 percent, while exports to Saudi Arabia fell by 27.4 percent.
According to the report, China’s annual increase in exports to Russia reached a staggering 70.3%. This shows that in Western countries after the imposition of sanctions on Russia, China has fully played an unexpected market space. It is noteworthy, however, that last year’s leaping growth was achieved by a 23% drop in 2015.