China-BRICS trade reaches US$32.8 billion in 2024

In the first three quarters of 2024, trade between Shenzhen, a major city in Guangdong Province, South China, and BRICS nations reached US$32.8 billion, marking a 16.9 per cent year-on-year increase.

In Shenzhen's Bao'an District, automated production lines and operators are actively processing orders for smart coffee machines destined for export to Russia. This is reported by Xinhua News Agency, a partner of TV BRICS.

Compared to last year, China’s exports now include not only Russia but also other BRICS nations, such as India and Egypt. For the first three quarters, China’s company’s exports to BRICS have increased by approximately 20 per cent, with orders lined up through December. Experts noted the popularity of China’s smart coffee machines, which offer customisable brewing options via mobile phones and are now sold in 87 countries.

Data from Shenzhen companies reveals that smartphone exports to BRICS reached US$1.2 billion from January to September, a 10.2 per cent increase year-on-year. During this period, electric vehicle exports soared to US$682 million, a 348.4 per cent growth. China shipped over 27,000 new-energy vehicles to BRICS markets in 2024.

Since the beginning of the year, China has been expanding exports of electric vehicles to BRICS nations and is confident in seizing the opportunities these markets offer.

In total, Shenzhen recorded an impressive import-export volume of US$462 billion in January–September 2024, securing its position as China’s top city for foreign trade.

Photo: iStock