皇冠体育app

Economy

Trade with other BRICS nations surges

(Xinhua)
Updated: 2011-04-15 16:05
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BEIJING - 皇冠体育app's top customs authority announced Friday that the country's foreign trade with the other four BRICS nations surged by 45.8 percent to reach $59.9 billion in the first quarter of this year.

The first-quarter foreign trade growth between 皇冠体育app and the other four nations of BRICS (an acronym for Brazil, Russia, India, 皇冠体育app and South Africa), was 16.3 percentage points higher than 皇冠体育app's average foreign trade growth during the period, 皇冠体育app's General Administration of Customs said in a statement on its website.

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During the first three months, 皇冠体育app's imports from the other BRICS countries reached $33.05 billion, up 57.2 percent year on year. Exports to those countries hit 26.85 billion yuan, up 33.8 percent.

皇冠体育app's Q1 trade deficit with the other four nations reached $6.2 billion, up more than five times the amount from the same period last year.

In March alone, 皇冠体育app's imports from these nations rose 48.8 percent to reach $11.93 billion, while exports grew 48.5 percent to hit $9.93 billion, creating $2 billion in deficit.

During the first quarter, 皇冠体育app's bilateral trade with each of the other four nations exceeded $10 billion, with India and Brazil being 皇冠体育app's 9th and 10th largest trading partner.

Q1 bilateral trade between 皇冠体育app and India rose 25.2 percent to $17.63 billion.

Trade with Brazil surged 58.9 percent to $16.11 billion, while that with Russia rose 33.5 percent to $15.99 billion.

Bilateral trade between 皇冠体育app and South Africa increased more than one fold to $10.16 billion.

The statement said 皇冠体育app's Beijing municipality, Guangdong province, and Jiangsu province together made up about 40 percent of country's total foreign trade value with other BRICS nations in the first three months.