BRICS Trade Settlement & Local Currency
Tracking the reality of the "BRICS Currency" through the architecture of local currency clearing and trade gravity.
The Gravitational Shift in Global Trade
BRICS+ vs. G7 Trade Gravity Shift
Swing-State Trade Allegiance · All Goods · 2018–2023
Brazil — Trade Gravity Trend
⚡ BRICS+ Dominant in 2023- BRICS+
- G7
Data demonstrating BRICS+ surpassing the G7 in share of global GDP (PPP) and physical trade volume. This shift in the center of economic gravity inherently necessitates non-USD clearing infrastructure to reduce systemic friction.
Local Currency Settlement Volumes
Global Trade Architecture
Strategic Observation: India's export growth is pivoting toward high-value engineering goods and services, while import reliance on energy continues to drive the bilateral deficit with the UAE and Russia.
The rise of RMB clearing in Russia, Brazil, and Argentina, facilitated by the expansion of PBoC bilateral swap lines. The transition away from the SWIFT network is measurable in these direct bilateral trade volumes.