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China’s trade with Brazil, Russia, India and South Africa, all BRICS members, surged by a whopping 188.5 per cent, 83 per cent, 72 per cent and 327 per cent, respectively, according to latest ministry of commerce (MOC) data.
China’s overall trade with emerging economies and developing countries saw a fast-rising trend last year, shaping a better world trade layout, the Chinese ministry noted on Thursday.
The newly released data showed that foreign trade between China and emerging economies and developing countries took a larger share in 2012, 6.2 percentage points more than the previous year.
China’s foreign trade also shifted around the domestic layout, with the country’s central and western regions taking 13.1 per cent, 4.6 percentage points more than 2007, according to the MOC.
Meanwhile, China’s import and export of services witnessed a year-on-year increase of 12.3 per cent in the total volume to $470.58 billion, ranking third in the world.
China’s exports to Europe, hurt by the continent’s debt troubles, declined 6.5 per cent to $25.9 billion and the surplus with the 27-nation European Union narrowed by 32 per cent to $7.9 billion.
With inputs from Agencies