#China Sees Robust Trade Growth With BRICS Countries—Trade between China and other BRICS countries recorded a 12.1-per cent year-on-year rise to reach 1.31 trillion yuan (about 195.96 billion dollars) in the first five months of 2022.
This is according to the customs data released on Tuesday.
The rate is 3.8 percentage points faster than China’s overall foreign trade growth in the same period, the General Administration of Customs (GAC) said.
BRICS is the acronym for an emerging-market group that includes Brazil, Russia, India, China and South Africa.
From January to May, China’s exports to the other four BRICS members went up 18.1 per cent year on year, while imports from them gained 6.6 per cent, GAC data revealed.
Mechanical and electronic products, as well as labour-intensive goods, accounted for 69.7 per cent of China’s exports to other BRICS countries in terms of value in the five months.
It said that 76.3 per cent of China’s imports from them were energy and agricultural products, as well as metal ore.
Trade between China and other BRICS countries was highly complementary and was expected to sustain growth as economic and trade cooperation among BRICS countries saw solid progress
