Khmelevskaya N.G.Moscow State Institute of International Relations of Ministry of Foreign Affairs of Russian Federation, Moscow, Russian Federation Khmelevskaya@mgimo.ru
Importance The article focuses on the development of Russia's trade with the BRICS countries, considering its foreign trade interests. The research investigates trade relations of the BRICS in terms of volumes and structure as the relations are significant for the current export position of Russia. Objectives The objective of the research is to search for milestones and factors of integrating the Russian commodity producers into commodity flows of the BRICS as one of the strategic areas of the new type partnership. Results I evaluate the asymmetry of the BRICS trade flows in terms of structural similarity and complementary nature. As the evaluation shows, proportions of the BRICS cross-country exchange stem from differences in economic parity of the member States, orientation of their export markets and even more important conditions of mutual trade. I demonstrate the Russian import market is complemented with electrical machines and devices from China, power generation equipment from Brazil (as per the Trade Complementarity Index). India imports precious metals and stones from Russia. Whereas the previous calculations, which are preformed using my extensive export model (using the generalized least square method), corroborate intensive growth in the Russian export, I decomposed the model into commodity groups and sub-items. Conclusions and Relevance I conclude that Russia saw the highest increment in export of mineral fuel, oil and oil products. I assess coefficients of explanatory variables for the mentioned groups of commodities. The conclusions and econometric results refer to the Strategy for developing economic cooperation of the BRICS.
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