China's Q1 foreign trade with other BRICS nations surges

13:08, April 15, 2011      

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China'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 U.S. dollars in the first quarter of this year.

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

During the first three months, China's imports from the other BRICS countries reached 33.05 billion U.S. dollars, up 57.2 percent year on year. Exports to those countries hit 26.85 billion yuan, up 33.8 percent.

China's Q1 trade deficit with the other four nations reached 6.2 billion U.S. dollars, up by more than five times the amount in the same period of last year.

In March alone, China's imports from these nations rose 48.8 percent to reach 11.93 billion U.S. dollars, while exports grew 48.5 percent to hit 9.93 billion U.S. dollars, creating 2 billion U.S. dollars in deficit.

Source: Xinhua
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