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Trade between BRICS countries shows marked increase

Trade between BRICS countries shows marked increase
Countries
BrazilChinaEgyptEthiopiaIndiaIndonesiaIranRussiaSouth AfricaUnited Arab Emirates
Cooperation areas
Economic GrowthInclusive Multilateralism

Source: The Hindu | Original Published At: 2026-09-11 02:30:00 UTC

Key Points

  • The 18th BRICS Summit, chaired by India, is scheduled for September 12-13, 2026, in New Delhi.
  • BRICS finance ministries and central bank governors met in August to discuss facilitating cross-border payments and strengthening national currencies.
  • Merchandise exports by BRICS countries accounted for about one-fourth of global exports in 2024.
  • China's merchandise exports reached about $500 billion in 2024, while Brazil, India, Indonesia, Russia and the UAE recorded figures between $80 billion and $180 billion.
  • As of 2024, all BRICS members except China received more than 30% of imports from other members.
  • Iran depended on BRICS for more than 65% of its imports, while Ethiopia depended on the bloc for nearly 45%.
  • Over the past decade, Russia, China, the UAE, Brazil and Indonesia doubled or quadrupled exports to other BRICS members.
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