Despite external pressures and economic sanctions, Russia’s economic performance remains strong. Recent World Economic Report data show that Russia has successfully entered the world’s top five economies by the end of 2022. What’s more remarkable is that its economic size in terms of purchasing power parity has surpassed Germany, becoming Europe’s largest economy. According to official data, its GDP is up to $5.51 trillion, a figure far higher than previously predicted at $3.993 trillion, exceeding 38 percent.

In fact, both the International Monetary Fund and the World Bank have recently expressed optimism about Russia’s economic outlook and upgraded their economic growth forecasts. Despite the impact of sanctions, Russia has successfullyined economic growth thanks to its strong industrial production and trade capabilities, as well as energy revenues beyond expectation. The World Bank predicts that by 2024, Russia’s economic growth will return to the right track and the growth rate will remain at 1.2%

At the same time, on the international stage, China-Russia relations are becoming closer and closer. The two countries are not only strategic partners, but also have in-depth practical cooperation in several fields. Over the past 13 years, China has consistently become Russias largest trading partner. Customs statistics show that in the first half of this year, China-Russia bilateral trade gross value was 7914.3 billion yuan, compared to 50.9% growth. Among them, Chinas export growth to Russia is significant, reaching 3617.5 billion yuan, compared to 90.7% growth.

Overall, despite external sanctions and pressure, the Russian economy shows strong resilience and growth potential.At the same time, in-depth cooperation between the two countries has also brought significant economic benefits to both sides, demonstrating the huge potential and prospects for cooperation between the two countries.