Trade between Brics countries – Brazil, Russia, India, China and South Africa – has increased 70% since the trade bloc was established in 2009, according to president Jacob Zuma.
He said the economies of the five Brics nations accounted for almost 30% of global gross domestic product. “Brics presents an aggregate GDP exceeding $32 trillion. This marks a 60% growth since the formation of the grouping," Zuma told reporters in Cape Town last week.
He added that the countries attracted 20.5% of total global direct investment in 2014, an increase of 3.5% over 5 years.
"The share of Brics capital investment on the global markets has also increased significantly from 9.7% to 14% since 2009," Zuma said.
Trade between Brics countries up 70%
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