(Yicai Global) Aug. 30 -- China's imports from and exports to other BRICS nations -- Brazil, Russia, India and South Africa -- reached USD171.6 billion (CNY1.15 trillion) in the first seven months of this year, up 40 percent from a year ago, and higher than the annual increase of 14.4 percent in China's overall trade, Ce.cn reported yesterday, citing data from the General Administration of Customs.
Exports grew 29 percent annually to CNY587 billion, while imports rose 38 percent to CNY562 billion. The trade surplus was CNY25 billion, down 48 percent from a year ago.
China's imports from and exports to South Africa were CNY156 billion, up 34 percent from a year ago, with a trade deficit of CNY45 billion, up 68 percent annually. Chinese imports from and exports to Russia and India were CNY322 billion and CNY327 billion, respectively, up 32 percent and 28 percent, from the previous year, with a trade surplus of CNY7.2 billion and CNY20 billion.
From January to July, Chinese imports from and exports to Brazil were CNY344 billion, up 38 percent annually, meaning China-Brazil trade grew at the fastest rate and hit the highest levels compared with China's commerce with other BRICS nations. The report did not specify whether China is running a trade surplus or deficit with Brazil, but the data suggests a deficit of CNY136 billion.