China Dominates BRICS Trade as Yuan Settlements Reshape Emerging Markets

China accounted for 70% of all BRICS trade volume in 2025-26, surpassing $1 trillion in transactions and cementing its role as the bloc's financial engine. The Communist Party's push for local currency settlements—67% of which involved yuan, rubles, rupees, and dirhams—has recalibrated trade flows away from Western financial systems.

While Brazil supplies agricultural commodities and Russia exports crude, China's industrial machinery and electronics dominate intra-bloc trade. This asymmetry reflects Beijing's 'dual circulation' strategy: absorbing raw materials while flooding emerging markets with finished goods.

The infrastructure gap among BRICS members grows starker. South Africa and India struggle to match China's export sophistication, leaving the alliance increasingly dependent on Beijing's supply chains. Analysts note the yuan's creeping dominance risks turning BRICS into a de facto Sinocentric zone.