By tf-lawyer.com During an interview on October 24, a representative from Shanghai Customs shared some intriguing insights into the trade dynamics between Shanghai and other BRICS nations for the first three quarters of this year. The import and export volume reached an impressive 747.76 billion yuan, reflecting a 5.4% increase compared to the same period in 2023, which accounts for 16.2% of China’s total trade.
The spokesperson emphasized Shanghai’s strong manufacturing system and technological edge, particularly highlighting the popularity of electromechanical products in other BRICS markets. In fact, exports of these products amounted to 361.8 billion yuan, making up over 60% of Shanghai’s total exports to BRICS countries, with a notable year-on-year growth of 8.4%. Among these exports, cars led the way with 51.24 billion yuan, followed by household appliances at 5.43 billion, general machinery at 14.88 billion, and electrical machinery at 30.83 billion. Remarkably, these segments experienced significant growth rates of 51.5%, 41.1%, 28.4%, and 10.8% respectively.
Electric passenger vehicles showed particularly explosive growth, with exports to BRICS countries totaling 12.08 billion yuan, nearly tripling compared to last year’s figures.
Moreover, trade in agricultural products, textiles, and mineral resources between Shanghai and other BRICS countries has been robust. The spokesperson reported that during the first three quarters, Shanghai imported agricultural products worth 44.74 billion yuan, textile raw materials at 5.6 billion, metal ores and concentrates at 3.02 billion, and unrefined copper and copper materials at 13.14 billion yuan. These imports saw year-on-year increases of 9.9%, an astounding 229%, 47.7%, and 23.9%, respectively.
