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Trade turnover between BRICS countries in 2014 totals $291 bln -- minister

Trade turnover between the BRICS countries in 2014 amounted to $291 bln, the Russian Economic Development Minister Alexey Ulyukayev said Tuesday at the meeting of Ministers of Economic Affairs and Foreign Trade of the BRICS countries.

"The volume of trade within the BRICS in recent years increased by more than 70% and reached $291 bln in 2014," Ulyukayev said, adding that the trade turnover between Russia and the BRICS countries in 2014 amounted to $105 bln.

Ulyukayev said that the BRICS countries have increased their share in the global GDP from 19% in 2001 to 30% of the global GDP in 2014.

"Our countries [at the end of 2014 - TASS] make up more than 17% of the global trade, 13% of the world service market, 45% of the world's agricultural production," Ulyukayev said.

According to him, the total GDP of the BRICS countries grew from $10 trillion (according to purchasing power parity) in 2001 to $32.5 trillion in 2014.

[Source: Itar Tass, Moscow, 07Jul15]

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