Intra-BRICS Exports: Brazil in 2nd Position

By Raulin Cadet | Published Sept. 11, 2023 | Updated Sept. 13, 2023 | Topics: Trade, BRICS, Brazil

An essential question emerges from a previous post related trade among BRICS countries: Which one of this country-group, following China, benefits most from intra-group exports? Countries that profit the most from multilateral trade agreements may seek to assume leadership roles within these agreements.

Concepts

Exports, as described in the post mentioned previously, are the products and services a country sells to the rest of the world. Gross Domestic Product (GDP)  quantifies the total value of goods and services produced within a country's borders during a specified period. This post considers also exports in percentage of GDP.

Brazil's performance

Economic theory suggests a positive link between exports and production. It indicates that an increase in exports induces higher production, emphasizing the interconnectedness of international trade and economic growth. While empirical studies generally support this theory, some others, like Jai S. Mah's research on China, reveal that the relationship is not always one-way; production can also drive export growth.

Exports,  among BRICS countries, is compared in this post's graphic. Part (a) of the visual reveals that Brazil is the second country, after China, to benefit the most from intra-BRICS exports. Part (b) of the graphic also highlights that Brazil is the first country in the BRICS group to profit from intra-BRICS exports, measured as a percentage of GDP. This underscores Brazil's significance as a key partner among the BRICS nations.