BRICS share in global GDP reaches 35.7%
By the end of 2023, the share of BRICS in global GDP at purchasing power parity capacity reached a record 35.7%, according to RIA Novosti calculations based on World Bank indicators.
Thus, the share of BRICS countries in the global economy increased by 0.6 percentage points over the year. And since 2006 (the year the association was created), its share in the economy has grown by 10.2 percentage points.
At the same time, the share of the «Big Seven» amounted to a minimum of 29% in the last 30 years at the end of 2023 — minus 0.4 percentage points over the year. Since 2006, the share of the G7 countries has decreased by 9.7 percentage points.
BRICS unites 10 countries: Brazil, Russia, India, China, South Africa, as well as Egypt, Iran, Saudi Arabia, the UAE and Ethiopia that joined the founding states. The G7 includes the United States, Great Britain, Germany, France, Canada, Italy and Japan.