EVOLUTION OF ICT AT THE LEVEL OF BRICS ECONOMY

Abstract

This article provides an in-depth analysis of the impact of Information and communication technology (ICT) on the BRICS economies from 2000 to 2022. It employs quantitative data analysis by gathering secondary data from official sources to explore trade dynamics, high technology exports, and global challenges within the bloc. The research reveals that China's economic development has significantly impacted ASEAN economies, both in terms of trade volume and structural economic changes. Key findings include that ICT and high –technology exports play major roles in economic growth providing further evidence that technology intensive goods and services are critical in the new economy. On the other hand, the relationship between trade and GDP was less strong and in some cases negative which implies that for these countries technologies could offer more value than traditional trade or export traditional products. However, there are several limitations encountered when conducting the analysis including missing data in ICT goods export and high technology exports, not considering other variables which may affect the dependent variable. It is recommended that BRICS countries invest more on technology transfer and on exportation of ICT and high-tech goods since they experience a positive impact on the economic growth rates. Further study therefore needs to incorporate more comprehensive databases and consider other characteristics like education, infrastructure or institutional quality, which might help to better explain the factors behind GDP growth in these economies.