BRICS reach 30 percent of global GDP
Minister of Economic Development of the Russia Federation Alexei Ulyukayev at the Meeting of the BRICS Finance and Trade Ministers.
The share of BRICS countries in global GDP has reached 30 percent, Russian Minister of Economic Development Alexei Ulyukayev said at the Meeting of the BRICS Trade Ministers in Moscow. Trade between the BRICS countries in 2014 was up by more than 70 percent to USD 291 billion, he pointed out.
"Our countries accounted for over 17 percent of global trade, 13 percent of the global services market and 45 percent of the world's agricultural output [in 2014]," Mr Ulyukayev noted, adding that the combined GDP of the five BRICS countries surged from USD 10 trillion in 2001 to USD 32.5 trillion in 2014.