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Russia’s trade turnover with BRICS countries up 6.3% in five months — minister

The ministry expects positive dynamics to persist and sees prerequisites for it

NIZHNY NOVGOROD, August 16. /TASS/. Russia’s trade turnover with BRICS countries increased by 6.3% in the first five months of 2024 year-on-year, Russian Industry and Trade Minister Anton Alikhanov said at a meeting of BRICS industry ministers.

He added that during the event meetings with representatives of China, Ethiopia and Brazil are also planned.

"Last year Russia’s trade with BRICS countries added 28%, closely approaching the $300 bln mark. We also see continuing growth in the first five months of this year as [trade] gained 6.3% year-to-date. Clearly there has been an expansion as 2023 figures that I mentioned did not cover new member states," Alikhanov said.

The ministry expects positive dynamics to persist and sees prerequisites for it.

"Positive dynamics persists. It is clear that there has been a certain effect from a major refocusing of our flows of goods, export and import supplies. Here we find strong support from BRICS colleagues as last year was record [with trading rising by] 28%. Clearly the base has grown substantially but, nevertheless, the positive trend persists," the minister said.

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Trade & Cooperation

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