According to the statistics of Yiwu Customs, from Jan. to July 2017, Yiwu's total volume of import and export trades of with BRICS (India, Brazil, Russia, and South Africa) reached RMB 14.79 billion, accounting for 11.1% of the total foreign trade volume of the city and with a year-on-year growth of 20.3%. Among the total volume, the volume of exports was RMB 14.77 billion, with a year-on-year growth of 20.9%.
Over the past decade, BRICS has developed into an emerging market and an important platform for the cooperation between developing countries; its economic aggregate has risen from 12% to 23% of the world's total, and its trade volume has increased from 11% to 16% of the world's total. BRICS is also an important import and export market of Yiwu. Foreign countries in BRICS are relatively weak in light industrial base but in great demand, so they are a broad sellers' market. Representing the cheap but fine commodities of China, the commodities of Yiwu, especially shoes, furniture, lighting devices, textile, and electronic toys, enjoy great popularity in BRICS, and India is the largest export market of Yiwu all year round.
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