BRICS News: BRICS economy news from 14 to 16 October 2026 ranged from a 23% jump in India’s September exports to US$13.2 billion in export deals signed at Trade Expo Indonesia and a pledge by Aliko Dangote to invest US$10–15 billion in Egypt, as finance officials met in Bangkok for the IMF and World Bank annual meetings.
Key facts
- Indonesian exporters signed 168 memoranda worth US$13.2 billion at Trade Expo Indonesia on 14 October.
- India’s goods exports reached US$44.4 billion in September, up 23% year on year.
- China’s foreign direct investment stock stood at 26.8 trillion yuan at the end of 2025, second in the world.
- Saudi consumer inflation held at 1.9% in September.
Brazil: retail barely moves in August
Brazil’s retail sales volume rose just 0.1% in August from July, the statistics institute IBGE reported on 15 October, after a 0.8% fall in July. The median market forecast was 0.7%, CNN Brasil noted. Broad retail, which adds vehicles and building materials, slipped 0.2%. Furniture and appliances dropped 4.2%. Office, IT and communication equipment jumped 6.3%, and sales were 1.7% higher for the year to date, according to Agência Brasil.
Russia: diesel out, gasoline in
Deputy Prime Minister Alexander Novak said on 15 October at Russian Energy Week in Moscow that the first Russian diesel could reach the United States in at least two to three weeks, once a contract is signed and cargoes are loaded. Commercial terms are still under negotiation, TASS reported. At home, Russia will keep importing gasoline “at least until the end of the year” to rebuild reserves drawn down over the summer. Imports hold a steady 10% of the market.
India: exports at a four-month high
India’s merchandise exports rose 23% to US$44.4 billion in September, the commerce ministry said on 15 October. Imports grew 8% to US$74.61 billion. The resulting US$30.21 billion trade deficit was wider than August’s US$26.86 billion but narrower than the roughly US$33 billion of September 2025. Commerce Secretary Rajesh Agrawal said goods exports could approach US$500 billion this fiscal year, Business Standard reported. April–September exports climbed 18.5% to US$259.89 billion.
How much foreign capital sits in China?
China’s stock of foreign direct investment reached 26.8 trillion yuan (about US$3.98 trillion) in 2025, second in the world and up for a sixth straight year, the Ministry of Commerce said on 15 October. Spokesperson He Yadong said 461,000 foreign-invested enterprises filed annual reports, 5.7% more than a year earlier, with an average profit margin of 8.7%. High-tech FDI rose 35.1% to 200.26 billion yuan in January–August 2026, Xinhua reported.
South Africa: R6.6 billion for freight locomotives
Transnet Engineering signed a long-term support agreement worth about R6.6 billion with Wabtec South Africa, announced on 15 October. It covers the Class 43D and 44D diesel fleets, with spare parts and predictive maintenance through Wabtec’s digital monitoring platform. “The 43D and 44D locomotives serve critical freight corridors,” said Bessie Mabunda, Transnet Engineering chief executive. Transnet Group chief operating officer Solly Letsoalo wants as many components as possible made locally, SAnews and Railway Gazette reported.
Egypt: Dangote courts the Cairo bourse
Nigerian industrialist Aliko Dangote, founder of Dangote Group, said on 15 October that the group plans to invest US$10–15 billion in Egypt, speaking at an Egyptian Exchange (EGX) event held with Afreximbank. EGX chairman Omar Radwan said the exchange is studying Egyptian depositary receipts so local investors could hold Dangote shares. “Egypt represents a central and active part of this major investment ecosystem,” Dangote said, according to Ahram Online. Our view: depositary receipts would give Egyptian savers a low-cost route into African industry, if regulators move fast.
Ethiopia: a fertilizer stake for local investors
In Addis Ababa, Dangote pledged to list at least 10% of the US$2.5 billion Gode urea complex on the Ethiopian Securities Exchange once production stabilises, The Reporter wrote on 17 October. Dangote Group owns 60% of the venture and state-owned Ethiopian Investment Holdings 40%. Planned output is three million tonnes a year. The pledge came at a roadshow for his Nigerian refinery’s IPO. “Our investment in Ethiopia has no limit,” he said, ENA reported.
Iran: bitumen bound for Vietnam
Vietnam’s DHT Mining Joint Stock Company and Petro Pasargad Hormozgan Company signed a memorandum in Tehran on 16 October to supply and distribute Iranian bitumen in Vietnam, the Tehran Times reported. Delegation head Nguyen Dang Dinh, in Iran from 6 to 18 October, also attended the Iran Med 2026 exhibition. Official bilateral trade is only about US$170 million. Dinh called banking links the main obstacle and proposed barter or local-currency clearing.
Saudi Arabia: rents keep inflation at 1.9%
Saudi Arabia’s annual consumer inflation was 1.9% in September, the General Authority for Statistics said on 15 October, with prices flat month on month. Actual housing rents rose 3.5% year on year and stayed the main driver. Food and beverages were up 1.4%, transport 2.3%. Wholesale prices rose a faster 4.2%, Zawya added.
Why does the UAE central bank expect a 2027 rebound?
Khaled Mohamed Balama, Governor of the Central Bank of the UAE, told regional governors and finance ministers in Bangkok that the economy could grow about 10% in 2027, after an expected 1.6% in 2026, Khaleej Times reported on 15 October. He pointed to rising oil capacity and fast non-oil activity. The forecast is the central bank’s own; the Fund’s numbers are in our IMF outlook coverage.
Indonesia: US$13.2 billion signed on day one
Trade Minister Budi Santoso opened the 41st Trade Expo Indonesia on 14 October at ICE BSD in Tangerang, Banten, where 168 memoranda worth US$13.2 billion were signed between Indonesian exporters and buyers from 22 countries, ANTARA reported. The fair, running to 18 October, targets US$17.5 billion in transactions. Registered buyers number 16,885, including 8,092 from abroad, CNN Indonesia said. “Those are just MoUs,” Santoso noted on 15 October.
BRICS economy news in numbers
| Country | Figure | Measure |
|---|---|---|
| Indonesia | US$13.2bn | Export MoUs at Trade Expo, 14 Oct |
| India | US$44.4bn | September goods exports |
| China | 26.8tn yuan | FDI stock, 2025 |
| Egypt | US$10–15bn | Dangote investment plan |
| UAE | ~10% | Central bank 2027 growth forecast |
FAQ
What is Trade Expo Indonesia?
It is the Trade Ministry’s annual export fair. The 41st edition runs from 14 to 18 October 2026 at ICE BSD near Jakarta, with 1,873 exhibitors expected.
Where can I follow more BRICS economy news?
Our Economy section tracks data releases across all 11 members.
Sources: Agência Brasil, TASS, Business Standard, Ahram Online, The Reporter, Tehran Times, Arab News, Khaleej Times, ANTARA.
