China-BRICS trade up 12.1pc between January and May

TRADE between China and BRICS countries stood at CNY1.31 trillion (US$196 billion) from January to May, surging 12.1 per cent year on year, Xinhua reports citing data from China's General Administration of Customs (GAC).


The 12.1 per cent growth was 3.8 percentage points higher than China's overall trade growth during the same period. In the first five months, China's exports to BRICS countries came in at CNY656 billion, up 18.1 per cent year on year, while imports from BRICS countries were CNY651.7 billion, rising 6.6 per cent year on year, according to GAC.


BRICS countries include Brazil, Russia, India, China and South Africa. In terms of countries, bilateral trade grew 26.5 per cent between China and Russia, 7.3 per cent between China and Brazil, 10 per cent between China and India, while declining 5 per cent between China and South Africa.


Mechanical and electrical products and labour-intensive products accounted for 69.7 per cent of the total value of China's exports to other BRICS countries; while energy, agricultural products, metals and minerals accounted for 76.3 per cent of the total value of China's imports from other BRICS countries.


As economic and trade cooperation among BRICS countries deepens and becomes more solid, China's trade with other BRICS countries is expected to continue to build on last year's positive momentum, GAC said.


In 2021, trade between China and other BRICS countries reached $490.42 billion, up 39.2 per cent. China hosted the 14th BRICS Summit in Beijing, which ended today (June 24).


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China-BRICS trade up 12.1pc between January and May
China-BRICS trade up 12.1pc between January and May