ABSTRACT
This paper analyses the key factors that influence commodity imports into the BRICS countries. Taking the top 10 countries from which BRICS import the maximum, as well as the other BRICS countries, this chapter examines both intra- and inter-BRICS import patterns. The chapter relies on annual data from 2000-2016 and utilises the Feasible Generalised Least Square (FGLS) and Panel Corrected Standard Error (PCSE) gravity model to find that both per capita gross domestic product (GDP) of the reporter countries and partner countries positively influence the flow of imports to BRICS. While the distance between countries is found to negatively affect imports, gross capital formation in the partner countries is found to boost their exporting ability to BRICS countries. The import flows of the BRICS countries are negatively affected by the tariff rates in those countries while the presence of a common language, formation of BRICS and freedom of trade positively affect import volumes.
