China Witnessed a Year-on-Year Trade Growth with BRICS Countries by 12.1% in Past Five Months

August 10, 2022

According to the data released by the General Administration of Customs of PRC on June 21, bilateral trade between China and the four BRICS countries, Russia, Brazil, India, and South Africa continued to grow in the first five months of this year, with a total value of 1.31 trillion yuan, a year-on-year increase of 12.1%, and 3.8 percentage points higher than the overall growth rate of China's foreign trade in the same period.

Specifically, for the past five months, China's exports to the other BRICS countries increased 18.1% to 656 billion yuan, and its imports gained 6.6% to 651.71 billion yuan.

In term of countries, Russia is China's biggest partner in the BRICS countries. In the first five months of the year, China had a bilateral trade of 419.8 billion yuan in total, an increase of 26.5%. Among them, exports were 156.7 billion yuan, an increase of 5.2%, and imports were 263.1 billion yuan, an increase of 43.9%. In addition, China's trade with Brazil and India increased 7.3% and 10%, respectively, and reached 415 billion yuan and 344.25 billion yuan, respectively; and its trade with South Africa decreased 5% to 128.65 billion yuan.

In terms of trade products, mechanical and electronic products, as well as labor-intensive goods, accounted for about 69.7% of China's total exports to other BRICS countries, and energy and agricultural products, as well as metal mine and ore accounted for about 76.3% of China's total imports from other BRICS countries.

(Source: the Xinhua News Agency)