Beijing recorded an 11.6 percent growth in imports and exports during the first quarter of 2023, driven by robust trade with emerging market economies such as Brazil, according to data released by the city’s customs authority on the 25th of April.

In the first quarter, Beijing’s imports and exports reached a total of 899.24 billion yuan, an 11.6 percent increase year-on-year, and 6.8 percentage points higher than China’s overall trade growth rate during the same period.

In the first quarter, the city is blossoming trade with emerging market economies. Brazil became Beijing’s fourth-biggest trading partner, as imports and exports between China and Brazil surged by 113.6 percent to 54.79 billion yuan.

This trend is likely to continue, as China and Brazil have inked a slew of deals during Brazilian President Lula da Silva’s visit to China in April to further boost bilateral economic and trade cooperation.

(Source: Global Times)