OREANDA-NEWS  Russia's trade turnover with the BRICS countries increased by 6.3 percent in the first five months of 2024 compared to the same period a year ago. This was announced by the head of the Ministry of Industry and Trade of the Russian Federation Anton Alikhanov, quoted by TASS.

The minister recalled that in 2023, the growth of trade with the countries of the association amounted to 28 percent, and its total volume approached the $ 300 billion mark. About 240 billion of this amount was spent on cooperation with China.

"The positive dynamics continues. It is clear that there was a certain effect from the powerful reorientation of our commodity flows, the base has grown significantly, but nevertheless the positive trend continues," the agency quotes Alikhanov as saying.

Earlier it was noted that in comparison with the level of 2019-2020, the result achieved last year increased by 2.4 times. Among other things, the expansion of the geography of Russian grain supplies contributed to the increase in trade turnover.

The BRICS share of global GDP in terms of purchasing power parity (PPP) reached a record 35.7 percent by the end of 2023, surpassing the G7 states, whose total figure fell to 29 percent.