Analysis of hot selling products in the Russian market, how can China's export trade seize the opportunity?
In the first eight months of 2024, trade between China and Russia showed a positive trend.
According to statistics released by the General Administration of Customs of China on September 10th, the trade volume between China and Russia increased by 1.9% year-on-year from January to August 2024, reaching 158.469 billion US dollars. Among them, China's exports to Russia amounted to 71.911 billion US dollars, an increase of 0.4%; China imported 86.558 billion US dollars from Russia, an increase of 3.2%.
Statistics show that in August, the trade volume between China and Russia was 21.687 billion US dollars. Among them, China exported 10.264 billion US dollars to Russia and imported 11.423 billion US dollars from Russia.
Hot selling products in the Russian market
Let's analyze the highly sought after Chinese products in the Russian market and explore how cross-border trade can accurately seize opportunities and seize the initiative in this blue ocean market.
Electronic products and accessories
Smartphones: Chinese brands face fierce competition in the Russian smartphone market, with a market share of over 80%. Chinese brands have won the favor of consumers with their high cost-effectiveness and constantly innovative technology.
Smart watches and accessories: The smart watch market is also fiercely competitive, but Chinese brands have certain advantages in terms of cost-effectiveness and functional innovation. With the increasing demand for smart wearable devices from consumers, the market potential is enormous.
Household Electric Appliances
According to reports, the estimated size of the Russian home appliance market in 2024 is 11.12 billion US dollars, and it is expected to reach 13.18 billion US dollars by 2029, with a compound annual growth rate of over 3.40% during the forecast period (2024-2029).
