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RE:Our trade with other BRICS countries is getting closer and closer
"jintengflag published on 2024-05-06 10:15:43
BEIJING, May 3 (Xinhua) -- BRICS expanded to 10 member countries in 2024 (Reporter Zou Duowei). According to customs statistics, in the first quarter, China's total import and export to the other nine BRICS countries amounted to 1.49 trillion yuan, an increase of 11.3 percent year-on-year, accounting for 14.7 percent of China's total import and export value.  Specifically, Brazil is China's top trading partner in Latin America, and in the first quarter, China's exports and imports to Brazil increased by 25.7% and 30.1% respectively year-on-year. China-Russia trade continues to expand, this year, the two countries in energy, automobiles, general machinery and equipment and other areas of trade continues to grow. China-India trade has grown year-on-year for five consecutive quarters, with an increase of 8.5% in the first quarter. South Africa has been China's top trading partner in Africa for 14 consecutive years. In the first quarter, China exported 35.11 billion yuan to South Africa and imported 66.46 billion yuan from South Africa.  In addition, China and Saudi Arabia, the United Arab Emirates in the field of energy trade to maintain good cooperation, both countries in the first quarter of China's top ten sources of imports of energy products. China and Egypt, Ethiopia in the field of infrastructure to carry out practical cooperation, in the first quarter, China's exports of foreign contracted projects to the above two countries have achieved rapid growth. China's commodities are also popular in Iran, China's market procurement exports to Iran in the first quarter rose 15.2% year-on-year.  Lv Daliang, director of the General Administration of Customs Statistics and Analysis Division, said that the BRICS countries, as representatives of emerging markets and developing countries, are expected to become the current global economic recovery and trade development "gas pedal". "At present, the BRICS countries account for about 20% of the global trade in goods, but the trade between them only accounts for about 10% of their total foreign trade, which still has great potential for growth. It is believed that with the further enrichment and development of the content and areas of cooperation of the BRICS family, bilateral and multilateral economic and trade exchanges are expected to make more positive progress."  As of January 1, 2024, Saudi Arabia, Egypt, the United Arab Emirates, Iran and Ethiopia became full members of BRICS, thus increasing the number of BRICS member countries from five to ten."