Xiamen's trade with BRICS countries exceeds 100 billion yuan
According to Xiamen Customs, from January to November, the city's trade with other BRICS nations reached 100.6 billion yuan ($14.12 billion) , a 16.8 percent increase compared to the previous year and accounting for 11.7 percent of Xiamen's total foreign trade value during the same period.
Exports amounted to 27.94 billion yuan, a 7 percent increase, while imports reached 72.66 billion yuan, an increase of 21.1 percent. Xiamen's trade with Russia alone reached 43.88 billion yuan, a remarkable 35.4 percent increase and accounting for 43.6 percent of the city's total trade with other BRICS countries during the same period.
State-owned enterprises accounted for more than half of the total trade value, while that of private enterprises grew rapidly. From January to November, trade among State-owned enterprises in Xiamen with BRICS countries reached 53.59 billion yuan, an increase of 7.8 percent, accounting for 53.3 percent of the total value of Xiamen's trade with other BRICS countries in the same period. Trade among private enterprises with other BRICS countries reached 41.34 billion yuan, up 38.7 percent.
Exports are dominated by mechanical and electrical products and labor-intensive products. From January to November, Xiamen exported 12.05-billion-yuan-worth of mechanical and electrical products to other BRICS countries, an increase of 17.9 percent, including 950-million-yuan-worth of automobiles, a 12.5-fold increase, while the export of labor-intensive products was 7.5 billion yuan, up 12.1 percent.