BRICS Intra-Trade Reaches 37% of The World's Transactions
The BRICS countries initiate billions worth of trade deals in transactions for crude oil, gas, and other goods and services. Trade between BRICS members increased by 56% between 2017 to 2022 among the existing five countries. BRICS countries initiated trade deals worth $422 million in the last five years. The bloc of five nations boasts of natural resources and farm products, except for Russia. However, Russia complements the bloc by exporting crude oil to both the West and other developing nations. Also Read: BRICS: Russia Dumps Currencies Worth $8.7 Million in Yuan & Ruble Set Read here to know how many sectors in the US will be affected if BRICS stops using the dollar for trade. The move could put the US economy on the brink of turmoil and lead to hyperinflation in the homeland. BRICS Trade Reaches 37% of the Global Total Source: Watcher Guru According to the latest report from Bloomberg, trade between BRICS members has reached 37% of the world’s cross-borde...