As the largest country in the world by area, Russia has a high urbanization rate and a growing demand for infrastructure construction and urban modernization, especially in the elevator industry. Against the backdrop of the Russia-Ukraine war, Chinese enterprises' export trade to Russia has been increasing. In January-June 2024, China exported 45,662 passenger elevators worth 6,378,484,589 yuan, an increase of about 15.8 percent year-on-year. In the first half of 2024, China's passenger elevators were exported to 163 countries and urban areas around the world, among which Russia was the largest exporter, with 3,443 units exported and a total export value of 510,982,427 yuan. The total output value of Russia's construction industry reached 1.36 trillion rubles in 2023, an increase of 5 percent year on year, showing the active construction market.
