BRICS News: China’s economy grew 4.5% year on year in the third quarter, Beijing said on 19 October 2026, and India’s free trade agreement with New Zealand took effect on 20 October. This BRICS roundup covers economic news from all 11 members between 19 and 22 October, from Brasília to Jakarta.
Key facts
- China’s GDP reached about 107.11 trillion yuan (USD 15.94 trillion) in January to September 2026, up 4.6%.
- The India–New Zealand FTA, in force since 20 October, gives all Indian exports duty-free access.
- South Africa’s inflation rose to 4.5% in September, below the 4.7% analysts expected.
- Bank Indonesia held its policy rate at 5.75% on 21 October but cut banks’ reserve requirement.
Brazil
President Luiz Inácio Lula da Silva signed Provisional Measure 1,397 on 20 October, opening BRL 6.49 billion (about USD 1.29 billion) in extraordinary credit for the Export Guarantee Fund. The money tops up Brasil Soberano, the support plan for exporters hit by United States tariffs. Publication in the Official Gazette on 21 October put it into force at once. Congress must still approve it, Poder360 and The Rio Times reported.
Russia
Chinese Premier Li Qiang visited Russia from 20 to 22 October for the 31st regular meeting of heads of government with Prime Minister Mikhail Mishustin, CGTN said. Their joint communique, published by TASS on 21 October, commits both sides “to keep the high share of payments in national currencies” and to protect each other’s banks. Kremlin aide Yury Ushakov said President Vladimir Putin and US envoy Steve Witkoff discussed Russian diesel supplies that day.
India
The India–New Zealand free trade agreement entered into force on 20 October. Commerce Minister Piyush Goyal said it grants duty-free access to 100% of Indian exports, while New Zealand has committed to facilitate USD 20 billion of investment and dairy stays protected, IANS reported. Goyal now leads about 100 companies and startups to Germany and the Netherlands from 22 to 27 October, according to ANI.
China
The National Bureau of Statistics reported on 19 October that GDP grew 4.5% in the third quarter, up from 4.3% in the second and 1.2% on the previous quarter. Growth for January to September came to 4.6%, inside the official 2026 target range of 4.5% to 5%. “The national economy sustained steady development against pressure,” the bureau said, according to Xinhua via People’s Daily and Yeni Şafak.
South Africa
Statistics South Africa said on 21 October that annual consumer inflation edged up to 4.5% in September from 4.4% in August. Prices rose 0.4% in the month. Transport inflation hit 10.8% and added 1.5 percentage points to the headline rate, SAnews reported. Fuel was 27.9% dearer than a year earlier. The South African Reserve Bank, which lifted the repo rate to 7.25% on 23 September, next meets on 19 November, The Rio Times noted.
Egypt
Talaat Moustafa Group chief executive Hisham Talaat Moustafa announced an EGP 11 trillion agreement with the state for four mixed-use projects on 20 October, at Egypt Forum 2026 in the New Administrative Capital. The plots cover more than 37 million square metres in East Cairo, Alexandria, Abu Qir and the North Coast. The largest, next to the new Abu Qir port, accounts for EGP 5 trillion, Daily News Egypt reported. Signing date and financing terms were not disclosed.
Ethiopia
Addis Ababa hosted an Ethiopia–UAE Business and Investment Forum on 20 October with a delegation from the Sharjah Chamber of Commerce and Industry, as reported by ENA and WAM. Trade between 2021 and 2025 totalled USD 5.6 billion, but lopsided: Ethiopia sold USD 1.2 billion and bought USD 4.4 billion, mostly fuel and urea. State Minister of Industry Hassan Mohammed urged Emirati firms to move “beyond importing and distributing goods” into agro-processing, textiles and pharmaceuticals.
Iran
Minister of Industry, Mine and Trade Mohammad Atabak met Andrey Slepnev, trade minister of the Eurasian Economic Commission, and called faster mutual supplies a “strategic priority,” TV BRICS reported on 21 October. The Eurasian Economic Union has sent Tehran a list of goods it wants to buy. Two days earlier in Dushanbe, Russian Deputy Prime Minister Alexey Overchuk said Mishustin and Iran’s First Vice President Mohammad Reza Aref had discussed free trade with the bloc, according to TASS.
Saudi Arabia
New figures from the General Authority for Statistics show factories in Saudi industrial cities rose 18.9% in 2025 to 4,938, while hotels jumped 31.6% to 2,847 with more than 491,000 rooms, Arab News reported on 21 October. The same day, a Saudi-Chinese joint venture led by China Fangda Group disclosed a SAR 1.15 billion (USD 306 million) facade contract for the Prince Mohammed bin Salman Stadium in Qiddiya.
UAE
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Foreign Minister, held talks in Mumbai on 20 October with Indian External Affairs Minister S. Jaishankar. “Bilateral trade has crossed a 100 Billion US dollars mark since the signing of the CEPA,” Jaishankar said, as quoted by The Tribune. UAE figures put trade at USD 101.25 billion in fiscal 2025–26, against a target of USD 200 billion by 2032, Channel IAM added.
Indonesia
Bank Indonesia kept its 7-day reverse repo rate at 5.75% on 21 October, raised the deposit facility rate by 25 basis points to 5% and cut the reserve requirement from 9% to 8%, falling to 7% on 1 December. That frees about IDR 190 trillion (USD 10.56 billion) for lending. Mixed signals? Deputy Governor Solikin M. Juhro said multiple challenges need “different policies,” Kontan reported.
Where does this BRICS roundup point?
Trade policy dominates the week. India opened one market and courts two more, Brazil is cushioning exporters from US tariffs, and Iran, Ethiopia and the UAE all talked about rebalancing trade flows. Central banks look less settled.
| Indicator | Latest |
|---|---|
| China Q3 GDP growth | 4.5% |
| South Africa CPI, September | 4.5% |
| Bank Indonesia policy rate | 5.75% |
| India–UAE trade, FY2025–26 | USD 101.25 billion |
For the wider picture, see our report on the IMF October 2026 outlook for BRICS economies, the previous BRICS economy roundup and our look at Ethiopia’s new airport plan.
FAQ
What is the main figure in this BRICS roundup?
China’s third-quarter GDP growth of 4.5% year on year, reported by the National Bureau of Statistics. Growth for the first nine months was 4.6%.
When did the India–New Zealand trade agreement take effect?
It entered into force on 20 October 2026, with duty-free access for all Indian exports to New Zealand.
Sources: People’s Daily, SAnews, TASS, ENA, Poder360, Kontan.
