Trade Relations among BRICS Countries – Intra-BRICS Trade Statistics

02 January 2018
Brazil and China Trade

BRICS is the acronym used for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Before induction of South Africa in 2010, it was BRIC. The first BRIC summit was held at Yekaterinburg city of Russia on 16th June 2009. The last BRICS summit was held between 3 Sept and 5 Sept 2017 at China’s Xiamen city. The bilateral trade among BRICS play a major role in world’s economic development.


As per a report on BRICS trade relations, the contribution of all the countries in global imports and exports amounted to USD 2339 billion and USD 2902 billion respectively in 2016. That means, BRICS countries recorded trade surplus in an aggregate during this year. They contributed 14.6% to global imports and 18.2% to global exports. Energy sector is in 2nd place to total imports, while 3rd place to total exports of BRICS countries. Let’s analyse BRICS trade statistics with prime focus on energy industry.


    

Brazil, Russia, India, China, South Africa (BRICS) Imports and Exports


The aggregate import and export value of BRICS amounted to USD 2339183 million and USD 2902801 million respectively in 2016. China stood as the largest trading country both in terms of imports and exports among BRICS nations and in the world as well. Here is just a quick trade overview of Brazil, Russia, India, China and South Africa with their import and export statistics.


 


Country

Import Value (2016)

Export Value (2016)

Import Ranking

Export Ranking

Brazil

USD 137552 Million

USD 185235 Million

4 (BRICS), 30 (World)

4 (BRICS), 27 (World)

Russia

USD 182261 Million

USD 285491 Million

3 (BRICS), 25 (World)

2 (BRICS), 17 (World)

India

USD 356904 Million

USD 260326 Million

2 (BRICS), 14 (World)

3 (BRICS), 20 (World)

China

USD 1587920 Million

USD 2097637 Million

1 (BRICS), 2 (World)

1 (BRICS), 1 (World)

South Africa

USD 74744 Million

USD 74110 Million

5 (BRICS), 38 (World)

5 (BRICS), 38 (World)

 


A report on trade data of BRICS released by Export Genius, gives a comprehensive outlook on bilateral trade relations between major countries including India, China and Russia. This market research company provides authentic import export data with complete shipment record collected from various genuine sources. So, let’s just go through this report and highlight the main points.



Trade Relations between India and Russia


India-Russia trade relations acquired greater significance in 2000 when both the countries signed “Declaration on the India-Russia Strategic Partnership”, during the visit of Russian President, HE Mr. Vladimir Putin to India. In 2016, a joint statement, “Partnership for Global Peace and Stability” was issued by Indian Prime Minister Narendra Modi and Russian President Vladimir Putin. It resulted in 19 cooperation agreements in areas including space, trade & investment, defence, railways and hydrocarbons.


India’s imports from Russia rose to USD 4782 million in 2016 from 2015’s USD 4527 million. Since 2012, the values have been almost similar, except in 2013. And India’s exports to Russia have been recording fluctuations since 2012. On the whole, India’s total trade with Russia went up to USD 7.5 billion in 2016, registering an impressive growth rate of 22%. Let’s have an outlook of India-Russia trade in last 5 years.


 


India's Imports from Russia

India's Exports to Russia

Year

Value (USD Million)

Year

Value (USD Million)

2012

4602

2012

2144

2013

3814

2013

2418

2014

4207

2014

2217

2015

4527

2015

1611

2016

4782

2016

1813

   


Bilateral trade between India and Russia is concentrated in key value chain sectors including electronics, machinery, automobile, pharmaceuticals, chemicals, precious stones, fertilizers, petroleum products, coal, industrial metals and high-end tea & coffee products. India and Russia are into Free Trade Agreement (FTA) to expand energy trade including gas, oil & nuclear. Recently, both the countries have agreed to streamline their bilateral trade in diamonds through reductions in tariffs and regulations. Russia has agreed to build more than 20 nuclear reactors in India over the next 20 years.


Gems and Jewelry are the major India’s imports from Russia, followed by petroleum products, fertilizers, iron & steel and paper products. India imported pearls & precious stones maximum in 2016 with total value recorded USD 2024 million. While, India exported pharmaceutical products the most to Russia in 2016 with total value recorded USD 335 million. Here is an overlook of top 5 India’s imports from and exports to Russia.


 


India's Imports from Russia

India's Exports to Russia

HS Code/Product

Value (%)

Value (USD Million)

HS Code/Product

Value (%)

Value (USD Million)

71 (Gems & Jewelry)

45%

2024

30 (Pharmaceutical Products)

18%

335

27 (Petroleum Products)

12%

582

84 (Machinery)

12%

192

31 (Fertilizers)

9%

387

09 (Beverages & Spices)

7%

119

72 (Iron & Steel)

5%

245

88 (Aircraft & Parts)

6%

111

48 (Paper Products)

4%

226

29 (Organic Chemicals)

5%

87

 


Read More about Bilateral Trade Relations between India and Russia



Bilateral Trade between Russia and China


The two-sided trade between Russia and China has grown rapidly as both the countries have committed to boosting economic cooperation. After dissolution of the Soviet Union in 1991, their relations have dramatically improved. And in 2001, Russia and China signed a treaty of “friendship and cooperation.


Total Russia’s imports from China amounted to USD 38086 million in 2016. Since 2012, Russia has been reducing its imports from China as the import value has been declining rapidly. From 2012’s USD 51767 million, the import value decreased to USD 38086 million in 2016. And total Russia’s exports to China amounted to USD 28081 million in 2016, which also declined greatly from 2012’s USD 35766 million. Here is a look on Russia China trade statistics recorded in the last five years.


 


Russia's Imports from China

Russia's Exports to China

Year

Value (USD Million)

Year

Value (USD Million)

2012

51767

2012

35766

2013

53173

2013

35625

2014

50853

2014

37414

2015

35199

2015

28334

2016

38086

2016

28021

  


Machinery is the largest Russia’s imports from China, followed by electronics, plastics and textiles. And mineral fuels are the top Russia’s exports to China, followed by wood, machinery and fish. Machinery recorded USD 11098 million and mineral fuels recorded USD 17862 million in 2016. Check out the top-most Russia’s imports from and exports to China in the chart and table given below.


 


Russia's Imports from China

Russia's Exports to China

HS Code/Product

Value (USD Million)

HS Code/Product

Value (USD Million)

84 (Machinery)

11098

27 (Mineral Fuels)

17862

85 (Electrical Machinery & Equipment)

9070

44 (Wood)

2593

39 (Plastics)

1312

84 (Machinery)

1201

62 (Not Knitted or Crocheted Apparel & Clothing Accessories

1190

03 (Fish)

1032

64 (Footwear)

1167

26 (Ores, Slag & Ash)

768

 


The bilateral trade between Russia and China in energy industry has been marked by great cooperation among both the countries since dissolution of the USSR in 1991. Russia’s economy is largely driven by the demand for the export of natural resources, while China’s fastest growing economy is placed with increasing pressure on itself to secure energy imports.


Read More about Bilateral Trade between Russia & China



India China Trade Relations


The relations between India and China have always been one of the hot topics for discussion around the world. Despite recent 2017 Doklam standoff, both the countries are playing a leading role in the world’s economic affairs. According to a report on India China trade relations 2017, India’s trade deficit with China amounted to USD 46.56 billion in 2016. China is India’s largest trading partner with India’s imports from China amounted to USD 60483 million and India’s exports to China amounted to USD 8916 million in 2016. Both trade values recorded a decline from the previous years. India China trade statistics of last 5 years are given below.


 


India's Imports from China

India's Exports to China

Year

Value (USD Million)

Year

Value (USD Million)

2012

54140

2012

14729

2013

51635

2013

16416

2014

58230

2014

13434

2015

61604

2015

9576

2016

60483

2016

8916

 


As we know China has one of the largest electronic industries in the world, India imported electrical machinery and equipment the most in 2016. The second and third major India’s import from China is machinery and organic chemicals respectively. As far as India’s exports to China, cotton stood as the largest product exported by China from India in 2016. Here are India’s top imports from and exports to China registered in year 2016.


 


India's Imports from China

India's Exports to China

HS Code/Product

Value (USD Million)

HS Code/Product

Value (USD Million)

85 (Electronic Equipment)

20871

52 (Cotton)

1263

84 (Machinery)

10728

26 (Ores, Slag & Ash)

1166

29 (Organic Chemicals)

5585

29 (Organic Chemicals)

785

39 (Plastics)

1837

27 (Mineral Fuels)

699

89 (Ships, Boats & Floating Structures)

1778

74 (Copper)

640

   


As India’s trade with China takes place under new taxation system when Goods and Services Tax (GST) implemented on 1st July 2017; the new custom duties are applicable on products that enter into India from China. Indian importers now have to pay a standardised tax on goods they import from China. GST and border issues are main facts that may result in declining India’s imports from China in future. If it happens, it will be beneficial to domestic Indian producers. Now we have to wait and watch total trade between India and China 2017 as year comes to an end.


Read more about India and China Bilateral Trade


China and Brazil Trade


China’s strategic partnership with Brazil is distinctly different from that of other BRICS members like India and Russia. China is the largest developing country in the world, while Brazil is the largest developing nation in the Western Hemisphere. Brazil’s vast natural resources like soya beans, iron ores, etc. are key to China’s economy. According to China Brazil trade statistics 2016, China’s imports from Brazil amounted to USD 45855 million, which declined from 2015’s USD 44089 million. And the total value of China’s exports to Brazil recorded USD 21976 million in 2016, which declined from 2015’s USD 27412 million. In short, Brazil has become increasingly important for China due to political and economic features. Check out Brazil and China trade statistics recorded in 2016 right here.


 


China's Imports from Brazil

China's Exports to Brazil

HS Code/Product

Value (USD Million)

HS Code/Product

Value (USD Million)

12 (Oil Seeds)

15551

85 (Electrical Machinery)

5690

26 (Ores, Slag & Ash)

13339

84 (Machinery)

2982

27 (Mineral Fuels)

6041

29 (Organic Chemicals)

1681

47 (Pulp of Wood)

2594

90 (Optical & Medical Equipment)

1121

02 (Meat)

2004

39 (Plastics)

757

 


So, if you want to import or export your product in Brazil, Russia, India, China or South Africa; our trade data provides you details of importers & exporters. Apart from that, we also provide HS Code, product description, value, quantity, port and other shipment record. Check out the sample of Brazil import of HS Code 48131000 right below and understand which fields we cover.


Date

29/12/2016

Importer Name

Mrceglia Importacao E Servicos Ltda - Me

Exporter

Hbi Europe Gmbh

Manufacturer

Iberpaper SA

HS Code

48131000

Product Description

Elements King Size Slim - Paper For Winding Cigarette - Each Box Containing 50 Notebooks With 32 Sheets.

Commercial Quantity

90

Commercial Unit

Boxes

Value (USD)

4882.4

Freight (USD)

344.96

Insurance (USD)

0

CIF (USD)

5227.36

Weight (Kgs)

118.25

Origin

Spain

Country Acquired

Germany

Unloading Place

Alf-Aerop Intern S Paulo

Unloading UF

SP

Shipping Method

By Air

 


We are one of the largest market research companies, providing import export data of 60+ countries. For any data requirement, drop an email to info@exportgenius.in or call us at +91 11 4704 8012 right now. 

Is this article helpful. Share with others!   

Add Comments

 
To Get Quick Response
Request a Demo close modal