Ningbo's trade with BRICS nations increases by 7.3% in early 2025

Customs officials inspect goods. [Photo/cnnb.com.cn]

Ningbo Customs has reported that in the first two months of 2025, the city's trade with BRICS nations — including member and partner countries — reached 56.17 billion yuan ($7.74 billion), a 7.3 percent year-on-year increase.

This trade accounted for 24 percent of Ningbo's total import and export value during this period. Indonesia, Brazil, and the UAE ranked as the top trading partners.

Following nine countries, including Indonesia, Malaysia, and Thailand, becoming BRICS partner nations this year, Ningbo businesses are experiencing new growth opportunities and more trade. Trade with BRICS partners totaled 12.94 billion yuan, an 18.5 percent increase, with exports surging 28.6 percent to 7.66 billion yuan.

One example is the 27.5 metric tons of high-impact polystyrene recycled granules imported from Indonesia, facilitated by Yuyao Zhongxin Plastics Co Ltd. Manager Yuan Genjin highlighted Indonesia's rich natural resources as critical for maintaining cost-effective plastic production.

Private companies played a significant role, contributing 43.17 billion yuan (accounting for 76.9 percent) to Ningbo's total trade with BRICS nations, up 9.5 percent year-on-year.

For instance, Weiyun Electronics holds 40 percent of Malaysia's socket market and exported nearly 7 million yuan worth of products in early 2025. Chai Jianlu, the firm's general manager, expressed confidence in expanding market share in Malaysia and entering Thailand.