How much do India, Russia, China trade and what goods do they buy?

"More than 20 leaders from non-Western nations gathered in Tianjin, China over the weekend for the Shanghai Cooperation Organisation (SCO) summit, which concluded on Monday, and at which President Xi Jinping set out his vision for a global economic order with the Global South at its centre. Against the backdrop of new global tariffs imposed by United States President Donald Trump, Xi told delegates: We must continue to take a clear stand against hegemonism and power politics, and practise true multilateralism."

"Trilateral trade between China, India and Russia accounted for $452bn in 2023, up from $351bn in 2022, according to the Observatory of Economic Complexity (OEC). Seen as an alternative power structure to most US-led international institutions, the 10-member SCO includes much of Central Asia, Russia, China, India, Iran, Pakistan and Belarus, and represents about 43 percent of the world's population and 23 percent of global GDP."

"China has a diverse range of trading partners. Its largest buyer is the US, which imported $442bn or 12.9 percent of China's total exports in 2023 mainly consisting of electronics, machinery, consumer goods and telecommunications equipment. Regionally, Asia is the main destination for China's exports, accounting for $1.6 trillion of goods, with India alone receiving $120bn, or 3.1 percent of China's total exports."

More than 20 non-Western leaders met in Tianjin for the Shanghai Cooperation Organisation summit where Xi Jinping promoted a Global South-centered economic order and called for resistance to hegemonism and practice of true multilateralism. The SCO encompasses 10 members including China, India, Russia, Iran, Pakistan, Belarus and much of Central Asia, representing about 43 percent of the global population and 23 percent of global GDP. Trilateral goods trade among China, India and Russia rose to $452bn in 2023 from $351bn in 2022. China's largest export market remains the US ($442bn in 2023), while Asia and Europe are major regional destinations.

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