China's trade index with other BRICS member countries is released for the first time

According to the website of the General Administration of Customs of China, on September 9, the General Administration of Customs of China released the "China Trade Index with Other BRICS Member Countries" for the first time during the 25th China International Investment and Trade Fair. The index is based on 100 points in 2009, when the BRICS leaders first met, and reached 301.51 points in 2024, showing a good development trend of continuous growth.

Cai Junwei, deputy director of the Statistics Department of the General Administration of Customs, said that the compilation and normalization of the "China's Trade Index with Other BRICS Member Countries" can comprehensively and objectively reflect the trade development achievements of China and other BRICS Member Countries, and reflect the fruitful achievements of pragmatic cooperation in the economic and trade fields of BRICS countries in multiple dimensions, and further promote economic and trade exchanges between BRICS countries.

Since 2009, China and other BRICS member states have continued to deepen pragmatic cooperation, trade exchanges have become increasingly close, the trade field has been further enriched and expanded, and the high-quality development of trade has achieved positive results.

The scale of trade has grown steadily. The trend of the "trade scale" indicator between China and other BRICS member countries has been improving. The indicator value in 2024 reached 283.73, of which the total value of import and export trade has steadily grown, the average import and export scale of enterprises has continued to expand, and the proportion of global trade has increased for eight consecutive years.

The trade structure is optimized and improved. China's "trade structure" indicators with other BRICS member states have always maintained an upward trend, with the 2024 indicator value being 192.27. Among them, the proportion of general trade imports and exports continues to exceed 70%, the activity of private enterprises continues to increase, the proportion of exports of independent brands steadily increases, and the proportion of local currency declaration and settlement has increased significantly, which has driven China to significantly optimize the trade structure with other BRICS member countries.

Innovation capabilities continue to be enhanced. The overall "trade innovation" indicator between China and other BRICS member countries is improving, with the indicator value reaching 342.81 in 2024. Among them, with the continuous advancement of high-quality development of my country's foreign trade, new products and new models continue to emerge, exports of green and low-carbon products and new business formats are growing rapidly, the number of AEO companies has increased significantly, and the import and export scale of enterprises in the high-tech zone continues to expand, jointly promoting trade innovation and upgrading between China and other BRICS member countries.

Trade potential continues to expand. China's "trade potential" indicator with other BRICS member states has risen steadily, with the indicator value reaching 387.21 in 2024. Especially since 2020, driven by the demand brought by the increase in the number of customs registered enterprises, industrial cooperation has driven the growth of capital goods exports, the sustainable development of bonded business, and the steady growth of per capita GDP of other BRICS member countries, the indicator value has continued to rise rapidly.

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