Analysis of the foreign trade dynamics in the BRICS countries

The relevance of studying the trends in the development of foreign trade operations of the BRICS countries is due to the ever-increasing role of the union in the global economy. The study presents the results of the analysis of the dynamics and structure of foreign trade operations of export and import of the BRICS countries for the period 2000-2022. In the entire volume of world trade of the BRICS countries, the most significant items of cross-border exchange of goods were identified in order to study the trend of the dynamics of the BRICS countries in international trade. The indicators of export and import of the most important food and raw materials, energy resources, which make up about 40% of the total turnover, were studied. The outpacing growth of exports compared to imports indicates a relatively better supply of raw materials, as well as a higher level of competitiveness of the BRICS countries compared to other economic unions and other states. The analysis of the growth structure of the volumes of foreign trade operations of the BRICS member countries showed the prevalence of high-tech goods with high added value in exports and a high raw material component of the BRICS imports. The results demonstrate trends in significant growth in the volumes of foreign trade operations and the overall positive dynamics of the growth of the BRICS share in world trade for a 20-year period, which indicates an increase in the political and economic power of the union countries. The findings allow us to predict the growth of the economic potential of the union, further increase in trade flows and an increase in the share in world trade, which will strengthen both political positions in the world and will contribute to the deepening of cooperation and macroeconomic coordination of the BRICS countries.