BRICS Economies Projected to Surpass 50% of Global GDP, Challenging Western Dominance
BRICS—comprising Brazil, Russia, India, China, South Africa, and new members—are projected to account for over 50% of global GDP in the next 10–15 years, signaling a significant shift in global economic power dynamics.
BRICS’ Outstanding Projection
According to Russian Deputy Prime Minister Alexander Novak, BRICS—currently representing 35% of global GDP—is expected to exceed 50% within the next 10–15 years. The bloc continues to expand, welcoming Egypt, Ethiopia, Iran, Saudi Arabia, and UAE in 2024, reflecting its growing influence as a counterbalance to the G7.
Robust Economic Growth
- By PPP (Purchasing Power Parity): BRICS accounts for 37.3% of global GDP, surpassing the G7 (30%).
- China: 19.05%
- India: 8.23%
- By Nominal GDP: The G7 leads with 44%, while BRICS ranks second with 28%.
Global Significance
- Broadened Representation: Saudi Arabia and UAE enhance energy influence; Egypt and Ethiopia boost Africa’s voice.
- Reshaping Global Governance: Strengthens the voice of the Global South in economic and political frameworks.
Future Outlook: According to Russian President Vladimir Putin, the primary source of global GDP growth in the coming years will be generated by BRICS.
Stay tuned for more updates and in-depth analyses on global economic power shifts!
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