MOSCOW, July 3 The share of BRICS in global GDP at purchasing power parity at the end of 2023 reached a record 35.7 percent, at the same time the share of economies » G7″ fell to 29%, according to calculations based on World Bank data.
BRICS today unites ten countries: Brazil, Russia, India, China, South Africa, as well as Egypt, Ethiopia, Iran, Saudi Arabia and the UAE. The G7 includes the USA, Japan, Germany, France, Great Britain, Canada and Italy.
At the end of last year, the share of the BRICS countries in the world economy amounted to a record 35.7 percent, having increased by 0.6 percentage points over the year. Since the creation of the association in 2006, its share in the economy has increased by 10.2 percentage points.
At the same time, the share of the “Big Seven” at the end of last year amounted to the minimum over the last thirty years, 29 percent — over the year the association lost 0.4 percentage points. Since 2006, the G7's share has decreased by 9.7 percentage points.
The rest of the world accounted for 35.3 percent of global output last year, a share that has remained broadly stable since 1990, hovering around one percentage point.
Global GDP at purchasing power parity in 2023 was $184.7 trillion, an increase of seven percent over the year.