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The volume of China's imports and exports with BRICS countries in the first seven months of 2023 reached 2.38 trillion yuan, an increase of 19.1% compared to the same period last year, higher than the overall growth of China's foreign trade of 0.4%, show the statistical data presented by the General Directorate of Customs in China and published in a press release by the China-Romania Chamber of Commerce.
From January to July 2023, China's exports to BRICS countries amounted to 1.23 trillion yuan, an increase of 23.9% over the same period in 2022, and imports from BRICS countries were 1.15 trillion yuan, up 14.3%.
"Mechanical and labor-intensive products have been the engine of China's export growth. The export value of mechanical products to BRICS countries reached 759.45 billion yuan, an increase of 38% compared with the same period in 2022. Among mechanical products, lithium batteries and electric passenger vehicles saw increases of 129.5% respectively 601.3%. In the mentioned period, the volume of exports of labor-intensive products was 157.81 billion yuan, up 20.5%," the quoted source said.
In terms of imports, crude oil, coal, natural gas and other energy products from BRICS countries were 422.78 billion yuan, up 17.3%, while imports of agricultural products reached 422.78 billion yuan. 270.24 billion yuan, up 14.9%.
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