BRICS (Brazil, Russia, India, and China)EENI- School of International Business |
About BRICS markets (Brazil, Russia, India, and China)
- Professional Master's Program in Business in the BRICS-MNS Countries
- Master in Business in Emerging Markets (e-learning)
BRICS Countries
- The total nominal GDP of BRICS Countries (2015): 16.92 trillion USD (23.1% of the world GDP)
- BRICS Countries population: 3,073 million of people (53.4% of the world population)
- Exports: 3.48 trillion USD (19.1% of the world total, 8.1% in 2001)
- Imports: 3.03 trillion USD
- Duplication since 2001 of its share in global exports
- Intra-BRICS trade: increase of 163% between 2006 and 2015.
- Gross domestic product (GDP) of emerging economies has risen from 39.7% of the world GDP in 1990 to 48% in 2006
- In 2050, BRIC markets (Brazil, Russia, India, and China) will generate 44% of global gross domestic product
- The Indian economy will surpass the US economy in 2043
Goldman Sachs predicts that:
- China and India will be the dominant global suppliers of manufactured products and services
- While Brazil and Russia would become dominant as suppliers of raw materials.
India and China are investing in higher education and going for “intellectual capital,” while Russia and Brazil depend too on commodity prices and are not making the necessary investments in infrastructure and human capital.
India has ten of the thirty fastest-growing urban areas in the World and, based on actual trends, 700 millions of people will move to the Indian cities by 2050. This will have significant implications for demand for urban infrastructure, real estate, and services. The economy of India will surpass the United States (in USD) by 2043. Recently Tata Motors acquired two recognised old British car-making brands: Jaguar and Land Rover.
Note: South Africa officially became a member of BRICS in 2010, BRIC was renamed to BRICS (S for South Africa).
Location of BRICS Countries and largest emerging markets
