In the first seven months, China's imports and exports to other BRICS countries increased by 19.1% year-on-year. Countries | BRICS | China
Beijing, August 21 (Xinhua) - The General Administration of Customs released data on August 21, showing that in the first seven months of this year, China's total import and export value to other BRICS countries was 2.38 trillion yuan, a year-on-year increase of 19.1%, far exceeding the overall growth rate of 0.4% in China's foreign trade during the same period, accounting for an increase of 1.6 percentage points to 10.1% in China's foreign trade import and export proportion. Among them, in the first seven months, China's exports to other BRICS countries reached 1.23 trillion yuan, an increase of 23.9%; Imports amounted to 1.15 trillion yuan, an increase of 14.3%, both maintaining rapid growth.
Specifically, electromechanical and labor-intensive products are driving China's export growth. In the first seven months, China's exports of mechanical and electrical products to other BRICS countries amounted to 759.45 billion yuan, a year-on-year increase of 38%, accounting for 61.7% of China's total exports to other BRICS countries during the same period. Among them, the exports of lithium batteries and electric passenger vehicles have doubled, with growth rates of 129.5% and 601.3%, respectively. During the same period, China's exports of labor-intensive products to other BRICS countries amounted to 157.81 billion yuan, an increase of 20.5%.
Energy resources and agricultural products effectively promote the export of relevant national products to China. In the first seven months, China imported 422.78 billion yuan of energy products such as crude oil, coal, lignite, and natural gas from other BRICS countries, an increase of 17.3%, accounting for 36.7% of China's total imports from other BRICS countries during the same period. During the same period, China imported 27.024 billion yuan of agricultural products from other BRICS countries, an increase of 14.9%, accounting for 23.5%.
Private enterprises continue to explore the markets of BRICS countries and have active trade exchanges with other BRICS countries. In the first seven months, China's private enterprises imported and exported RMB 1.36 trillion to other BRICS countries, a year-on-year increase of 29.4%, accounting for 57.1% of China's total import and export value with other BRICS countries during the same period, becoming the main force of China's "BRICS trade".