China trade deficit with BRIC countries up 50.5 per cent
15 Apr 2011
March saw China's trade deficit with the others of the BRIC grouping shoot 50.5 per cent from a year earlier at $2 billion, according to the customs bureau in a statement on its website today.
Total exports from China to Brazil, India, Russia and South Africa were up 48.5 per cent last month at $9.93 billion while imports gained 48.8 per cent to $11.93 billion, the bureau said.
Over the first quarter, China's traded deficit with other BRICS nations expanded $6.19 billion, that was 5.5 times more than the same period last year.
Meanwhile, the BRIC countries yesterday drew up plans to ensure that the voice of developing nations was not drowned on the world stage. They came with a concurrence of views on almost all issues of international importance, including political, economic, climate change, terrorism and reforms of the UN and international financial institutions.
According to the plan, a string of high-level meetings on almost all issues - security, political and economic - to enable the five countries better coordinate their positions had been drawn up. The plan would be initiated with a meeting of National Security Advisers later this year in China.
In addition to pushing for a more equitable world economic order, the five nations slammed the adoption of strong arm tactics by the west, in Libya and supported the return of peace and stability in West Asia-North Africa according to the ''legitimate aspirations of their peoples.''
