According to data from the Global Trade Research Initiative (GTRI), BRICS nations exported goods worth a massive $5.67 trillion in the 2025 financial year. This is equal to 21.6% of total world exports. However, internal exports among BRICS countries were only $1.1 trillion, just 18.8% of their total exports.
As for India, its trade deficit with BRICS nations grew to $226.1 billion in the 2026 financial year, a huge jump from just $74.5 billion in 2021. The combined GDP of BRICS countries is a whopping 41% of the world’s total. One out of every two people in the world lives in a BRICS country, and their share in world trade is 26%.
If internal trade grows and payments happen in local currencies, their reliance on Western markets will drop. With manufacturing hubs like China and Russia, energy sources like Iran and Saudi, and a massive market like India all in one bloc, the dollar’s dominance will take a big hit. Even US President Trump’s tariff threats won’t work. This is exactly why America is watching the BRICS summit so nervously.
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