Data show increasing BRICS trade

Chinese customs data demonstrates rising economic cooperation among Brazil, Russia, India, China, and South Africa.

The findings show that trade between BRICS countries is exploding.

According to data from the General Administration of Customs of China (GACC), which was cited by the Global Times on Wednesday, China's foreign trade with other BRICS member states amounted to 1.64 trillion yuan ($244 billion) in the first half of the year. This represents an increase of 14.1% in annual terms.

According to the available statistics, the total value of exports reached 817.18 billion yuan, which is equivalent to 121 billion dollars. The value of imports rose as well, by 8.3 percent, to a total of 825.82 billion yuan, which is equivalent to almost $123 billion.

During a press briefing held on Wednesday, the spokesperson for the GACC, Li Kuiwen, stated that China's commerce with other BRICS nations has been more intensive in recent years. He made the observation that the total value of goods traded had skyrocketed from 960.21 billion yuan (about 143 billion dollars) in 2009 to 3.17 trillion yuan (approximately 472 billion dollars) in 2021.

According to the report, China's imports of energy supplies as well as agricultural goods have experienced tremendous growth. China's total imports of crude oil, natural gas, coal, and other energy goods from other BRICS nations reached 298.98 billion yuan ($45 billion) during the first six months of 2022, representing a rise of 53.3 percent. The value of the country's agricultural product imports increased by $15.6 billion, or 185.46 billion yuan, to a total of $28 billion.