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Trade Between NE China Province, Russia Exceeds US$11 Bln in 2008

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Northeast China's Heilongjiang Province, which borders Russia, saw US$11.06 billion in foreign trade with its northern neighbor in 2008, representing a growth of 3.1 percent year-on-year, according to the provincial commerce department.

The trade volume made up 19.5 percent of China's total trade value with Russia, the report said.

The increase came after Russia lowered export prices on resource-oriented products such as timber. Trade was also improved by the depreciation of the US dollar and the Russian ruble, according to the department.

The province promoted exports such as automobiles, mechanical and electrical products.

The export of mechanical and electrical products to Russia hit US$3.92 billion, up 76.8 percent than the previous year. Farm produce reached US$1.48 billion, up 25 percent year-on-year.

(Xinhua News Agency January 28, 2009)