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Is BRICS the New Powerhouse of the Global Economy? Key Stats You Must Know!

The BRICS bloc (Brazil, Russia, India, China, and South Africa) has emerged as a major force in the global economy. With rapid GDP growth, increasing trade influence, and a massive population, these nations are reshaping world economics—a crucial topic for competitive exams.

BRICS Statistics: A Rising Global Powerhouse
The BRICS nations have significantly expanded their role in the world economy. Here’s why they matter:
GDP Growth: Over the past 15 years, BRICS has tripled its share of global GDP. Currently, it contributes 18% (by market rates), expected to rise to 25-26% in a decade and one-third by 2030.

Purchasing Power Parity (PPP): BRICS accounts for 30% of global GDP (PPP) today, projected to reach 37-38% by 2025 and 45% by 2030.
Population & Territory: These nations cover 30% of the world’s land and house 45% of the global population.
Economic Influence: BRICS contributed 50% of global economic growth in the last decade, making it a key driver of development.

Trade & Investments:
Represents 17% of world trade.
Attracted 11% of global FDI (US$465 billion in 2012).
Holds combined foreign reserves of US$4 trillion.
Future Projections: Experts predict BRICS could rival the G7 (US, Japan, Germany, etc.) by 2027.
South Africa’s Role:
With a US$527 billion economy and a per capita PPP income of US$11,000, South Africa strengthens BRICS’ economic diversity, standing close to Brazil (US$11,845) and Russia (US$16,700).

Sample Questions & Answers for Competitive Exams
Q: What percentage of the world’s GDP does BRICS contribute currently (PPP terms)?
A: Approximately 30%.
Q: By what year is BRICS expected to surpass the G7 in economic size?
A: By 2027, as per some analysts.
Q: Which BRICS country has the highest per capita income (PPP)?
A: Russia (US$16,700), followed by Brazil and South Africa.
Q: How much of global trade is controlled by BRICS nations?
A: Around 17%.
Q: What was BRICS’ share of global GDP in 2011 (PPP)?
A: Roughly 20-25% (US$13.7 trillion).

Why is This Important for Exams?
Current Affairs: Questions on BRICS frequently appear in SSC, PSC, UPSC, and banking exams.
Economic Trends: Understanding BRICS helps in general awareness and essay writing.
Design & Management Exams: NID, NIFT, and FDDI exams may include questions on global economic shifts.
Stay updated with key statistics—mastering BRICS data can give you an edge in competitive exams!