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Russia has increased trade turnover with BRICS countries by 38%

Russia has increased trade turnover with BRICS countries by 38%

The trade turnover between Russia and the BRICS countries in the first quarter of 2022 increased by 38% compared to the same period last year, said the head of the Ministry of Economic Development Maxim Reshetnikov.

"Russia's foreign trade turnover with BRICS partners shows a tangible growth. By the end of 2021, the trade turnover increased by 40% and reached a record $ 164 billion. There is also a significant growth in the first quarter of 2022 - 38% compared to the first quarter of 2021," he said.

The Minister called on companies from the BRICS countries to actively replace Western business in Russia.

BRICS is a group of five countries: Brazil, Russia, India, China, South Africa.

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Author: Alexandra Zaslavskaya
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