European Parliamentary Research Service By / March 18, 2024

EU–BRICS+ trade in goods

EU–BRICS+ trade in goods

EU–BRICS+ trade in goods

In terms of trade, the four new members and Saudi Arabia hold less importance for the EU than the original four plus one, if only due to their population and market size. Their combined contribution to total EU trade in goods in 2022 is approximately 3 %, a stark contrast to the nearly 25 % share held by the original five BRICS members. EU trade in goods with BRICS+ including Saudi Arabia rose by 35 % from 2012 to 2022 to a trade volume of almost €1 6 billion in 2022 (see Figure 4). However, this is mainly due to the huge increase (by 55 %) of trade with China, which is also by far the largest economy in the group.

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European Parliamentary Research Service

European Parliamentary Research Service
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