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China's Trade with Other BRICS Countries Achieves Overall Growth

Year-on-year Increase of 32.9%

Submit Time:25-09-2017 | Zoom In | Zoom Out

Author:Zhang Yi | Source:Guang Ming Daily (August 30, 2017, p. 01)

Abstract:

According to the statistical data released by the General Administration of Customs on August 29, in the first 7 months of this year, China's imports from and exports to other BRICS countries amounted to 1.15 trillion yuan, up 32.9% over the same period last year, 14.4 percentage points higher than the overall growth rate of China's foreign trade in the same period. 

Specifically, in the first 7 months, China's exports to other BRICS countries totaled 586.58 billion yuan, an increase of 28.7%, and imports 561.88 billion yuan, an increase of 37.7%. Among them, imports from and exports to Russia reached 321.88 billion yuan, up 32.5%; India 326.66 billion yuan, up 28.3%; South Africa 156.23 billion yuan, up 33.7%; Brazil 343.69 billion yuan, up 37.7%. 

Economic and trade cooperation has always been the ballast and propeller for the BRICS cooperation. The BRICS E-Commerce Cooperation Initiative was adopted at this year's Meeting of the BRICS Trade Ministers, where the BRICS countries decided to establish the BRICS E-Commerce Working Group, fully launch the process of cooperation, and earnestly strengthen pragmatic cooperation on policy sharing and capacity building. As the BRICS countries have extremely efficient connections in the fields of e-commerce and logistics, the Chinese market is expected to see more featured products from other BRICS countries in the future. 


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