ANALYSIS OF CONTRIBUTION OF BRICS COUNTRIES IN INTERNATIONAL TRADE FROM THE VOLUME OF ADDED VALUE PERSPECTIVE

The role of BRICS countries in the global economy is growing, that is why quantitative approach is need to study the level of cooperation within the block. This study is dedicated to the analysis of not only BRICS countries` impact on the global value-added chain through trade, but also on the countries` interdependence and scale of linkages. In order to calculate it, a set of Leontief`s Multiregional Input-Output tables has been used, which grants an opportunity to determine interdependence of separate national industries. The purpose of this study is to exclusively examine the production relations of the BRICS member countries, which is expressed in the intermediate consumption of individual sectors, without examining the participation in final consumption of households and government, as well as in gross fixed capital formation. The OECD database on foreign trade in terms of value added for the period 2005-2020 was taken as the statistical basis of the study. The relevance of this study lies in the need to gain an understanding of the opportunities, obstacles and outcomes of economic interaction between block partners according to quantitative data that reflects reality in a more accurate way. The above-mentioned areas are more acute due to the expansion of the BRICS membership and the global political-economic turbulence that has been observed over the past 10 years.