According to a research, BRICS has more economic clout than the G7.

April 10, 2023



(RT)

The BRICS group, comprising the world’s five major developing economies, has overtaken the Group of Seven (G7) by making up a larger share of the global gross domestic product (GDP) based on purchasing power parity. According to Acorn Macro Consulting, the bloc of BRICS countries, Brazil, Russia, India, China and South Africa, contributes 31.5% of the world’s GDP. Meanwhile, the G7, consisting of the US, Canada, France, Germany, Italy, Japan and the UK, adds up to 30.7%. The gap between the two groups is expected to continue to grow, as China and India are experiencing robust economic growth and more countries are interested in joining BRICS. Saudi Arabia, Egypt and Bangladesh have acquired equity in the New Development Bank, BRICS’ funding organization.

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