Hunan Embraces New BRICS Opportunities: Foreign Trade Reaches 59.68 Billion CNY in First Seven Months
With the expansion of the BRICS group to ten members in January this year, Hunan's foreign trade has embraced new opportunities brought by the "BRICS". Data from Changsha Customs shows that from January to July, Hunan's trade with other BRICS countries amounted to 59.68 billion CNY, marking a 1.9% increase year-on-year. This includes 35.66 billion CNY in exports and 24.02 billion CNY in imports, with the latter growing by 25.2%. During the first seven months, trade with other BRICS countries accounted for about 20% of Hunan's total foreign trade. Brazil, Russia, and South Africa emerged as Hunan's top three BRICS trading partners, with trade volumes of 16.07 billion CNY, 12.5 billion CNY, and 10.7 billion CNY, up 23.1%, 10.3%, and 36.7% year-on-year respectively. Hunan's trade with the new BRICS members of Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia reached 11.38 billion CNY.