New Delhi, May 16 -- Intra-BRICS merchandise trade has grown to USD 1.17 trillion in 2024 from USD 84 billion in 2003, Commerce Secretary Rajesh Agrawal said while highlighting the growing economic cooperation among BRICS nations, according to a release issued by the Ministry of Commerce and Industry on Saturday.

While delivering the keynote address at the 2nd Meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) held in Gandhinagar, Gujarat, Agrawal said intra-BRICS merchandise trade has risen "thirteen-fold" from USD 84 billion in 2003 to USD 1.17 trillion in 2024, the release said.

He added that intra-BRICS trade still accounts for only around 5 per cent of global trade, indicating "significant untapped potential fo...