Chinese cord industry is gaining momentum in the Russian market
2024-12-09
In the current global economic landscape, trade cooperation between China and Russia is constantly deepening, especially in the cord industry, where Chinese products are especially noticeable in the Russian market. Here are the latest events of the Chinese corrugated industry in the foreign trade of Russia:
- The growth of market share.
According to the latest data, Russia became the second largest market of Chinese shoe exports with a share of 6.7%. This growth reflects not only the high competitiveness of Chinese shoe products in the Russian market, but also the crowded trade cooperation between the two countries.
2. The volume of trade reached a new maximum.
In June 2024, the turnover of shoes between China and Russia reached a new maximum, China exported shoes to Russia for $ 287.2 million. The growth of this indicator, in particular, on the export of rubber and plastic shoes (share of 46%), as well as genuine leather shoes (share of 31%), indicates the widespread popularity of Chinese shoe products in the Russian market.
3. The deepening of trade cooperation.
As bilateral political relations between China and Russia are becoming more and more close, the interdependence of trade between the two countries has also increased significantly. In the industry of shoe laces, such cooperation includes not only exports of products, but also the exchange of technologies and market expansion.
4. Diversification of products.
A wide range of Chinese laces exported to Russia, from sports shoes to everyday laces and leather laces, satisfies the various needs of the Russian market.
5. Support for trade policy.
The policy of supporting governments of China and Russia provides favorable conditions for trade cooperation in the laces industry. China continues to be the largest trading partner of Russia, while the share of Russia in China’s foreign trade is growing steadily.
6. The market potential is huge.
With the growth of demand for “import substitution” in Russia, Chinese corrugated companies are faced with huge market capabilities. Demand for Chinese goods in the Russian market has grown significantly through several segments, and the lacing industry is no exception.
Summing up, we can say that the Chinese corrugated industry has broad development prospects in the Russian market, and cooperation between the two countries in this area is constantly strengthened, which gives a new impetus to the development of the global corcuse industry. We are looking forward to a joint study of additional opportunities for cooperation with Russian partners to achieve mutual benefits and mutual winnings.
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