According to the report published on 19th February by Standard Bank of South Africa (SBSA), The BRICS – Brazil, Russia, India, China and South Africa, have seen the trade among them increase dramatically than other trading areas of the world since 2001. The trade value among BRICS in 2012 reached approximately $310 billion, more than 11 times than 2002.

It is pointed out that trade among BRICS takes up 20% of the total amount in newly emerged markets, and this ratio was only 13% in 2008. Especially, China became the world biggest trading country beyond America last year, playing an important role.

It is predicted that trade between BRICS and Africa will increase to over $500 billion till 2015, of which 60% will be contributed by trade between China and Africa.

Source from CNSS