BRICS trade in numbers: What exports, imports and the $226 billion deficit reveal

India assumed the BRICS chairmanship on 1 January 2026 and is set to host the summit in the national capital on 12‑13 September 2026, with the event framed around resilience, innovation, cooperation and sustainability. The gathering will bring together leaders from the 11‑member bloc, which now includes Brazil, Russia, India, China, South Africa and newer entrants such as Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.

According to data cited by The Hindu, BRICS economies account for roughly 49.5 % of the world’s population and about 40 % of global GDP. In 2024, merchandise exports from the bloc represented one‑quarter of worldwide exports. China’s 2025 GDP is projected at $19.63 trillion, while India’s stands at $3.92 trillion, making it the seventh‑largest economy. India’s trade balance with the group shows a $226 billion deficit, even as intra‑BRICS imports exceed 30 % for all members except China. Export values for 2024 range from $80 billion to $180 billion for Brazil, India, Indonesia, Russia and the UAE, with China alone reaching $500 billion.

The bloc was created in 2006 to promote inclusive growth and a more representative global economic governance structure, especially for emerging markets. Over the past decade, several members have markedly increased reliance on each other for imports—Iran sources over 65 % of its imports from fellow BRICS nations, and Ethiopia about 45 %. The deepening trade ties are expected to bolster supply‑chain integration, investment flows and alternative payment mechanisms that could reduce dependence on the US dollar, positioning India as a pivotal player in the evolving economic landscape.