Abstract
This study aims to analyze the determinants of manufacturing industry exports in BRICS countries (Brazil, Russia, India, China, and South Africa), with a particular emphasis on the role of Foreign Direct Investments (FDI). To this end, a panel data model based on a Vector Error Correction method (VECM) was employed for the period from 2001 to 2022. This approach enabled the identification of FDI’s influence and other determining factors on manufacturing exports in BRICS countries, considering each country’s characteristics within specified time frames. Results demonstrated that FDI, Gross Capital Formation (GCF), and average years of schooling have a positive impact on manufacturing exports. A 1% increase in FDI is associated with a 0.40% increase in exports, while increases in GCF and average years of schooling contribute to an increase in exports by 1.12% and 0.53%, respectively. Exchange rates, although not statistically significant, had a negative relationship, suggesting that depreciation favors competitiveness. These findings highlight the importance of FDI and structural factors and reinforce the need for policies that encourage investment and workforce qualification.