Xiamen's trade with BRICS countries continues to grow

Updated: May 24, 2023 Print
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In the first four months of this year, Xiamen's trade with other BRICS countries totaled 349.6 billion yuan ($49.62 billion), an increase of 64.9 percent year-on-year, accounting for 10.9 percent of Xiamen's total foreign trade value.

Exports amounted to 98.3 billion yuan, up 29.5 percent, while imports totaled 251.3 billion yuan, a surge of 84.7 percent.

In April, imports and exports amounted to 101.8 billion yuan, up 86.4 percent year-on-year and marking 12 consecutive months of growth.

During the period, trade with Russia, Brazil, and South Africa saw significant growth. The trade value with the three countries was 164 billion yuan, 90.1 billion yuan, and 45.2 billion yuan, year-on-year increases of 177.5 percent, 34.7 percent, and 50.9 percent, respectively.

State-owned enterprises accounted for the highest proportion of trade. In the first four months, trade between BRICS nations and Xiamen's State-owned enterprises totaled 183.1 billion yuan, an increase of 52.8 percent year-on-year.

Imports from these countries mainly consisted of coal and lignite, metal ores and concentrates, and agricultural products. During the same period, Xiamen imported 78.3 billion yuan of coal and lignite, 63.5 billion yuan of metal ores and concentrates, and 28 billion yuan of agricultural products.

Exports were mainly electromechanical and labor-intensive products. In the first four months, Xiamen exported 45.3 billion yuan of electromechanical products to other BRICS countries, 1 billion yuan of lithium batteries, and 26.9 billion yuan of labor-intensive products.


An aerial view of Xiamen [Photo/IC]

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