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The amount of commerce between Moscow and BRICS member states grew by virtually a 3rd through the first eight months of this 12 months in annual phrases, amounting to $42.1 billion.
That’s in response to Deputy Mayor of Moscow Vladimir Efimov, who informed TASS that financial cooperation between January and August was additionally 12.5% larger than throughout the identical interval of 2019, when commerce turnover amounted to $37.43 billion.
“Moscow’s commerce with the bloc member states is kind of balanced, exports to the BRICS international locations account for about $20 billion whereas imports [account] for round $22 billion,” Efimov stated.
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Knowledge by the Mosprom Middle reveals that Moscow’s non-resource exports to China amounted to $1.11 billion this 12 months. Exports to India stood at $340.13 million, whereas Moscow despatched items price $20.45 million and $27. 38 million to Brazil and South Africa, respectively. Moscow exports primarily industrial merchandise to the BRICS international locations, together with mechanical gear, plastic merchandise, electrical units, in addition to communications gear and parts.
BRICS, a five-nation financial bloc, was established in 2006 and contains Brazil, Russia, India, China and South Africa. It has greater than a 16% share in international commerce and represents greater than 40% of the world’s inhabitants.
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