China-BRICS Trade Growth
In the first five months of this year, trade between China and other BRICS countries rose 12.1% from the same period last year to reach 1.31 trillion yuan (about 195.96 billion dollars), the latest customs data shows.
According to the General Administration of Customs (GAC), the rate is 3.8 percentage points faster than China's overall foreign trade growth in the same period.
BRICS stands for Brazil, Russia, India, China, and South Africa, a group of emerging-market countries. Chinese exports to the other four BRICS countries rose 18.1 percent year on year from January to May, while imports increased 6.6 percent, GAC data showed.
In terms of value, Chinese exports to other BRICS countries were dominated by mechanical and electronic products and labor-intensive goods. In contrast, Chinese imports were dominated by energy and agricultural products.
The trade between China and other BRICS countries is highly beneficial, and it is expected to grow steadily as economic and trade cooperation between them becomes increasingly stable.