Brics trade strengthens

TRADE between the Brics countries – Brazil, Russia, India, China and South Africa – has grown strongly this year.

The world’s largest container shipper, Maersk Line, which handles one out of seven containers shipped globally, said its shipments from China to India had increased 26% by value in the first half of the year compared to last year.

It also said that its shipments from China to Brazil, and from China to South Africa, each had grown by almost 9%.

“We can see from our own statistics, customers in the four countries are most attracted to Chinese textiles and apparel, consumer electronics [appliances and kitchenware] and furniture products,” said Mike Fang, MD for Maersk’s greater China cluster.

Growth in China’s manufacturing sector unexpectedly accelerated in August, survey data showed, suggesting the world’s secondlargest economy was still expanding at a healthy clip.

Chinese policymakers are keeping the stimulus taps flowing at a time when stronger growth is prompting some in the West to start winding back cheap money.

Maersk also said the value of its shipments from South Africa to China had increased by 44% in the period.

Although Chinese imports still mainly focused on raw materials and resources, Maersk saw an increase in the imports of, for example, meat from Brazil and fruit and nuts from South Africa, Fang said.

“E-commerce co-operation is developing very fast among the five countries, with many of their products gaining traction on the Chinese market,” he said.

“There is much potential to enable trade among Brics nations and we will definitely look into it.”

Maersk’s figures, more detailed than earlier ones, were devised for a Brics summit in Xiamen, China, last week. — Reuters