The Interaction Between Foreign Trade and the Logistics Performance Index in BRICS Countries

Özet

BRICS is an international organization that brings together several countries with significant emerging national economies. Initially referred to as "BRIC," this formation was established in 2001 based on the belief that these nations would have a notable impact in terms of economic potential and growth. South Africa joined as a member in 2010, becoming the fifth country to form BRICS. Until recently, the group consisted of Brazil, Russia, India, China, and South Africa. However, as of January 1, 2024, the membership increased to 10 with the inclusion of new member states: Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia. These countries have come together, recognizing their shared economic, political, and strategic interests. The primary objectives of BRICS include influencing the global economic order, fostering development cooperation, and addressing issues such as global security. The member countries advocate for a fair restructuring of the governance of international financial institutions like the IMF and the World Bank, aiming for greater representation and influence of developing nations. BRICS member countries convene annually through a summit to discuss economic, political, and security matters. Additionally, they collaborate on issues such as economic cooperation, trade, and investment opportunities. Over time, BRICS has gained increasing influence, exerting more weight in the global economy. This study examines the relationship between BRICS' macroeconomic indicators, as shaped by its latest composition, and the logistics performance index. With the inclusion of new member states, BRICS has become even more powerful, significantly impacting the global economy, thereby underscoring the importance of this research. Furthermore, no prior study has been conducted on BRICS in its final composition as of 2024, enhancing the relevance of this work in contributing to the existing literature. The analysis reveals that the independent variables have a positive and supportive impact on the logistics performance index. It is observed that BRICS is progressing in line with its intended objectives.