Intra-BRICS trade has reached an all-time high of $4.2 trillion, driven by improved payment infrastructure, new trade agreements, and a strategic shift away from Western-dominated financial systems.
The milestone was announced by the New Development Bank at its annual meeting in Shanghai, marking a significant acceleration in South-South trade flows. The figure represents a 47% increase from 2023 levels and outpaces global trade growth by a wide margin.
What's Driving the Surge
Payment System Improvements
The most significant catalyst has been the rollout of the BRICS Payment Gateway. Faster, cheaper, and more reliable cross-border payments have eliminated major friction points that previously deterred trade. Companies that once avoided small transactions due to high wire fees now find it economical to trade in smaller batches.
"We used to bundle orders to minimize transaction costs. Now, with BRICS Pay, we can place smaller, more frequent orders. It's transformed how we manage inventory." — Zhang Wei, Export Manager, Shenzhen Electronics
New Trade Agreements
The 2025 BRICS Free Trade Agreement, though still being implemented, has already reduced tariffs on thousands of goods. Key areas of growth include:
- Agricultural Products: +62% — Brazilian soybeans, Indian spices, Russian wheat
- Electronics: +58% — Chinese components, Indian software, South African minerals
- Energy: +41% — Russian oil/gas, Brazilian ethanol, UAE solar panels
- Pharmaceuticals: +89% — Indian generics finding new markets across the bloc
Currency Shift
As dollar usage declines, more trade is conducted in local currencies. This eliminates currency risk for many transactions and reduces the need for dollar reserves. By December 2025, 53% of intra-BRICS trade was settled in local currencies — up from 26% in 2022.
Country-by-Country Breakdown
China
China remains the largest BRICS trader, with $1.8 trillion in intra-bloc trade. The Belt and Road Initiative has been folded into BRICS infrastructure projects, creating new trade corridors across Asia, Africa, and South America.
India
India's BRICS trade reached $680 billion, with particular strength in pharmaceuticals, IT services, and agricultural exports. India's push to reduce Chinese import dependence has led to increased trade with Russia, Brazil, and South Africa.
Russia
Despite sanctions, Russia's BRICS trade hit $620 billion as it redirected exports away from Europe. Energy sales to China and India have increased dramatically, while Russian imports of Chinese electronics and Indian pharmaceuticals have surged.
Brazil
Brazil's BRICS trade totaled $580 billion, with agricultural commodities driving much of the growth. Brazil has emerged as a key food supplier to China while importing more manufactured goods from India and technology from China.
South Africa
South Africa posted $340 billion in BRICS trade, positioning itself as a gateway to Africa for other member nations. Mining exports (gold, platinum, diamonds) and agricultural products flow to China and India, while manufactured goods come from China and Russia.
New Members Making Impact
The five new BRICS members (UAE, Egypt, Ethiopia, Iran) added significant trade volume:
- UAE: $420 billion — Hub for re-exports and financial services
- Egypt: $180 billion — Growing trade corridor between Africa and Asia
- Ethiopia: $95 billion — Emerging market with strong growth potential
- Iran: $185 billion — Sanctions-driven BRICS trade acceleration
Business Success Stories
Companies across the BRICS bloc are finding new opportunities:
Case 1: Indian Pharmaceutical Export
Ajanta Pharma has expanded its exports to Russia and Brazil, growing its BRICS revenue from $50 million in 2022 to $380 million in 2025. "The simplified payment process through BRICS Pay made it feasible to serve smaller markets," says CEO Rajesh Shirke.
Case 2: Brazilian Agribusiness
Cargill do Brasil now handles over $2 billion in soybean exports to China monthly, with settlements converted instantly via BRICS Payment Gateway. "The reduction in settlement time from 5 days to seconds has transformed our treasury operations," reports CFO Ana Lucia.
What's Next
The New Development Bank projects intra-BRICS trade will reach $5.5 trillion by 2028, driven by:
- Full implementation of the BRICS Free Trade Agreement by 2027
- Expanded merchant acceptance for BRICS Pay
- New transport corridors connecting member nations
- Growing middle class across BRICS creating new consumer markets
For businesses worldwide, the message is clear: the BRICS economic bloc is no longer a theoretical concept. It's a commercial reality reshaping global trade patterns.