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VOL. 2, ISSUE 6 (2017)
Impact of selected macro-economic variables on foreign trade of BRICS nations
Authors
Shankar R, S Manimegalai, B Ramya
Abstract
Foreign trade is a vital sector of a country’s national economy, and contributes substantially to the economic welfare of the people and the development of resources. Foreign trade plays a significant role in restructuring economic and social attributes of nations’ around the world, particularly the less developed nations’. The growth rate and per capita income of an economy depends on the domestic production, consumption activities and in conjunction with foreign transaction of goods and services. Foreign trade affords a major contribution to the economic growth of developing nations’. For decades, investors have focused on the big five developing BRICS (Brazil, Russia, India, China and South Africa) nations where Brazil and Russia are strong in the commodity and natural resources sectors while India and China are net importers in these area. The contribution of BRICS to global value added in foreign trade has increased from 2.6 % in 1991 to 16.5% in 2015. Due to the arrival of various investors, it can be seen with the magic of growth in new lands that were less-popular among mainstream investors.
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Pages:1160-1163
How to cite this article:
Shankar R, S Manimegalai, B Ramya "Impact of selected macro-economic variables on foreign trade of BRICS nations". International Journal of Academic Research and Development, Vol 2, Issue 6, 2017, Pages 1160-1163
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