Trade between BRICS & China reach $196 bn in Jan-May 2022

23 Jun '22

1 min read

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Trade between China and other BRICS nations increased by 12.1 per cent year-over-year (YoY) in the first 5 months of this year to reach 1.31 trillion yuan ($196 billion), as per China’s General Administration of Customs (GAC). It exported goods worth 656 billion yuan to BRICS nations, while the imports stood as 651.7 billion yuan between January to May.

BRICS countries include Brazil, Russia, India, China and South Africa.

Bilateral trade grew by 7.3 per cent between China and Brazil, 26.5 per cent between China and Russia and 10 per cent between China and India. However, trade between China and South Africa declined by 5 per cent in the same period, Chinese media reports said quoting the GAC.

China’s trade with BRICS nations had increased by 39.2 per cent YoY to $490.42 billion in 2021.

China’s trade with the rest of the BRICS countries is expected to increase as the economic and trade cooperation between them deepens, said GAC.

The 14^th BRICS Summit is being held in Beijing today.

ALCHEMPro News Desk (KD)

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