This year marks the first time that the BRICS cooperation mechanism expands from five to ten member countries. Changsha's trade with other BRICS countries soared 12% year on year to 33.57 billion CNY in the first three quarters of 2024, according to statistics released by the Xingsha Customs Authority on October 30. This accounted for 45.6% of the total trade volume between the province and other BRICS countries during the same period, and the growth rate was 11.5 percentage points higher than the provincial level. Specifically, Changsha's exports to these countries totaled 28.55 billion CNY, showing a year-on-year growth of 14.3%, while its imports reached 5.02 billion CNY, with a growth of 0.8% on a yearly basis.

Among the BRICS countries, Russia, India, and Brazil were Changsha's top three trading partners. In the first three quarters, bilateral trade between Changsha and the three countries reached 9.31 billion CNY, 7.32 billion CNY, and 6.58 billion CNY, up 1.8%, 16.5%, and 111.6% respectively. In the same period, the city's imports from and exports to Saudi Arabia, the United Arab Emirates, and Ethiopia were 4.45 billion CNY, 3.06 billion CNY, and 170 million CNY, up 14.8%, 18.5%, and 31% respectively.

Changsha's economic and trade cooperation with BRICS countries was highly complementary. Changsha's exports of construction machinery, organic chemicals, and electrical equipment parts to BRICS countries increased by 32.2%, 100.7%, and 25.2% respectively, while its imports of beef, edible oil, and iron ore from these countries rose by 415.2%, 815%, and 126.5% respectively.

Source: en.changsha.gov.cn