Moscow (Sputnik) -- Russia is capable of increasing its beer exports to China from $26.4 million in 2021 to $50 million, according to the Federal Center for the Development of Export of Agricultural Products of the Russian Federation.

"It is estimated that the potential supply of Russian beer to China is around $50 million," the statement said.

Data from the Russian AgriExport Center shows that between 2017 and 2021, the countries with the largest beer exports to China are Germany (20.6 percent), Belgium (16.7 percent) and Mexico (11.3 percent). Russia ranked seventh in beer exports to China in 2021.

In terms of volume, Germany (32.8 percent), Belgium (9.7 percent) and Mexico (8.4 percent) will continue to be the largest beer exporters to China in 2021. Russian beer exports to China reached 36,300 tons (6.8 percent) in 2021, a significant increase from 19,400 tons in 2017.

Yet imports account for only about 1% of China's beer market. In 2021, China imported 529,800 tons ($710.5 million) of beer, the lowest import volume in five years. China's beer imports peaked at 826,100 tons ($904.4 million) in 2018.

Experts pointed out that in recent years, China's domestic beer consumption stood at about 44 million to 46 million tons, and only decreased to 42.23 million tons in 2020 due to the closure of the catering industry. However, in 2021, both beer consumption and production rebounded, increasing by 5.2% year-on-year.