Emerging and Developing Economies Export, Import and Trade
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The emerging and developing economies are expected to drive global trade growth by more than 8 percent annually in 2011 and 2012 according to the Organisation for Economic Co-operation and Development (OECD).
BRICS (Brazil, Russia, India, China and South Africa), the five largest emerging economies in the world, account for 18 percent of global trade and about 45 percent of current growth. While Brazil, Russia and South Africa focus primarily on raw material exports, India and China’s key exports lie in manufacturing and services.
The emerging and developing economies are expected to drive global trade growth by more than 8 percent annually in 2011 and 2012 according to the Organisation for Economic Co-operation and Development (OECD).
BRICS (Brazil, Russia, India, China and South Africa), the five largest emerging economies in the world, account for 18 percent of global trade and about 45 percent of current growth. While Brazil, Russia and South Africa focus primarily on raw material exports, India and China’s key exports lie in manufacturing and services.
In April 2011, economic and trade ministers from the BRICS nations came together in a summit and vowed to “oppose trade protectionism in all its forms” by creating a task force designed to come up with suggestions to improve and expand economic cooperation between BRICS and other developing economies. Another topic brought up during the summit was the issue of BRICS nations trading directly in their own countries. Doing so would potentially reduce the impact of unstable internationally convertible currencies.
Table of Contents
BRICS Import and Export Indicators and Statistics at a Glance
Brazil
Total value of exports: US$158.9 billion (2010 estimate)
Primary exports – commodities: transport equipment, iron ore, soybeans, footwear, coffee, automobiles
Primary export partners: US (14.4 percent of total exports), China (12.4 percent), Argentina (8.4 percent), Netherlands (5 percent), Germany (4.5 percent)
Total value of imports: $136 billion (2010 estimate)
Primary imports – commodities: machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
Primary import partners: US (14.9 percent of total imports), China (11.6 percent), Argentina (7.9 percent), Germany (7 percent)
Russia
Total value of exports: US$295.6 billion (2010 estimate)
Primary exports – commodities: petroleum and petroleum products, natural gas, wood and wood products, metals, chemicals and a wide variety of civilian and military manufactures
Primary export partners: Netherlands (11.2 percent of total exports), Italy (8.1 percent), Germany (8 percent), Turkey (6 percent), Ukraine (5.1 percent), Poland (4.5 percent), China (4.3 percent)
Total value of imports: $196.8 billion (2010 estimate)
Primary imports – commodities: vehicles, machinery and equipment, plastics, medicines, iron and steel, consumer goods, meat, fruits and nuts, semi finished metal products
Primary import partners: Germany (13.5 percent of total imports), China (13.2 percent), Japan (6.5 percent), Ukraine (6 percent), US (4.5 percent), Italy (4.3 percent)
India
Total value of exports: US$155 billion (2010 estimate)
Primary exports – commodities: petroleum products, textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures
Primary export partners: US (12.3 percent of total exports), United Arab Emirates (9.4 percent), China (9.3 percent)
Total value of imports: $232.3 billion (2010 estimate)
Primary imports – commodities: crude oil, machinery, gems, fertilizer, chemicals
Primary import partners: China (11.1 percent of total imports), Saudi Arabia (7.5 percent), US (6.6 percent), United Arab Emirates (5.1 percent), Iran (4.2 percent), Singapore (4.2 percent), Germany (4.2 percent)
China
Total value of exports: US$1.194 trillion (2010 estimate)
Primary exports – commodities: electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment
Primary export partners: US (17.7 percent of total exports), Hong Kong (13.3 percent), Japan (8.1 percent), South Korea (5.2 percent), Germany (4.1 percent)
Total value of imports: $921.5 billion (2010 estimate)
Primary imports – commodities: electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals
Primary import partners: Japan (13.3 percent of total imports), South Korea (9.9 percent), US (7.2 percent), Germany (4.9 percent)
South Africa
Total value of exports: US$67.93 billion (2010 estimate)
Primary exports – commodities: gold, diamonds, platinum, other metals and minerals, machinery and equipment
Primary export partners: Japan (11.1 percent of total exports), US (11.1 percent), Germany (8 percent), UK (6.8 percent), China (6 percent), Netherlands (5.2 percent)
Total value of imports: $70.24 billion (2010 estimate)
Primary imports – commodities: machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs
Primary import partners: Germany (11.2 percent of total imports), China (11.1 percent), US (7.9 percent), Saudi Arabia (6.2 percent), Japan (5.5 percent), UK (4 percent)
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