Amid the growing size and prominence of the economic alliance, BRICS now accounts for over 36% of the world’s GDP. This growth has been fueled by the bloc’s recent expansion, which saw new members like Saudi Arabia and the UAE join in 2024.
Maksim Reshetnikov, Russia’s Minister of Economic Development, highlighted that BRICS now represents over 36% of global GDP, 22% of world trade, and nearly half of the world’s population. This shift underscores the increasing economic influence of the BRICS nations.
Looking ahead, projections indicate that China’s GDP could surpass that of the United States by the early 2030s, potentially boosting BRICS’ share of global GDP to 40%.
This development could significantly impact global economic dynamics, especially as BRICS continues to attract new members.