China: BRICS Trade Reaches $330 Million, Outperforms US Trade

Joshua Ramos
BRICS China Xi Jinping

Trade between China and its fellow BRICS alliance members has officially reached a massive $330 million, outperforming its trade output with the US. Moreover, reports have stated that imports and exports between China and the BRICS alliance have increased by 19.1% year over year.

Specifically, exports noted a 23.9% growth, while imports increased 14.3% from a year ago. Subsequently, the development notes that increased trade is taking place between China and the bloc. Officially, overtaking the trade amount that is enacted with the United States.

brics countries flags

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China & BRICS Trade Reaches $330 Million as It Overtakes the US

The BRICS economic alliance has had the attention of the entire geopolitical sector over the last several months. Indeed, the bloc concluded its 2023 annual summit in August, where it integrated some landmark decisions. Among them, is the option to grow its membership by six countries.

Now, following that event, China has seen its trade with BRICS nations reach $330 million, outperforming the country’s trade with the US. Indeed, the figures note a significant increase from a year ago, as its trade with the bloc represents 10.1% of its total output.

China oil gas commodity brics expansion gdp

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The increase in figures also seems to be displaying a bit of a trajectory for the economic alliance. Just a year ago, trade between China and the bloc had grown by 17%. Subsequently noting that the economic alliance could see this trade relationship continue to grow and flourish.

That should be much easier with the noted expansion of the bloc. Specifically, Saudi Arabia, Iran, The United Arab Emirates (UAE), Egypt, Argentina, and Ethiopia joined Brazil, Russia, India, China, and South Africa. These nations should bring forth more unilateral trade opportunities between members.