BRICS Countries Brazil, Russia, India, China, South Africa

BRICS Countries  

At the 2024 Kazan Summit, BRICS invited 13 additional countries as “partner countries,” underscoring its ambition to reshape the global economic landscape and strengthen the collective voice of developing nations.

1. Total nominal GDP of the BRICS Countries (2015): 16.92 trillion USD (23.1% of the world's GDP)
2. BRICS Countries population: 3,073 million people (53.4% of the world’s population)
3. Exports: 3.48 trillion USD (19.1% of the world total, 8.1% in 2001)
4. Imports: 3.03 trillion USD
5. Duplication since 2001 of its share in global exports
6. Intra-BRICS trade: increase of 163%
7. The GDP of the emerging economies has risen from 39.7% of the world's GDP in 1990 to 48% in 2006
8. In 2050, the BRIC markets (Brazil, India, and China) will generate 44% of global GDP
9. Indian Economy will surpass the United States economy in 2043

Goldman Sachs predicts that:

1. China and Bharat (India) will be the dominant global manufactured products and services suppliers
2. While Brazil and Russia would become dominant as raw materials suppliers

India and China are investing in higher education and going for the “intellectual capital,” while Russia and Brazil depend too on the 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 the actual trends, 700 million people will move to the Indian cities by 2050. This will have significant implications for the demand for urban infrastructure, real estate, and services. The economy of India will surpass the United States economy (in USD) by 2043. Tata Motors acquired two recognized old British car-making Brands: Jaguar and Land Rover.

Note: South Africa officially became a member of the BRICS in 2010, BRIC was renamed to BRICS (S for South Africa).

Location of the BRICS Countries and the largest emerging markets.