BRICS Performance and Key Statistics
At the inception of BRICS, international observers did not pay much attention to its success, seriousness, or key role in global economy and politics. However, over time it became clear that BRICS member countries experienced higher economic growth rates compared to G7 members and the world’s top five economies. These statistics are purely based on available data, with no competition or ranking implied.
BRICS Share in the Global Economy
In 2024, the GDP (PPP) of BRICS countries reached $65.3 trillion, accounting for 39.29% of the global economy, both exceeding the share of G7 countries. The combined population of BRICS members was 3.93 billion, representing 49.03% of the global population. The total land area of BRICS, around 47.8 million km², represents approximately 32.03% of the world’s land mass.
Growth in Trade and Foreign Investment
In 2009, the internal trade volume among BRICS members was about $269 billion, growing 3.5 times to reach $919 billion by 2023. In 2009, these countries experienced 7% economic growth, which increased to around 13% in subsequent years. Although this growth has been gradual, it has been steady and continues.
Regarding foreign direct investment (FDI), inflows to BRICS countries were $27 billion in 2010, increasing to $167 billion by 2021 according to the latest data.
BRICS Position in Finance and Innovation
The initial capital of the New Development Bank (NDB) in 2016 was $2.5 billion, rising to $35 billion by 2024. Membership in BRICS does not automatically grant membership in NDB; only countries adhering to global financial market principles participate.
From a demographic perspective, almost half of the world’s population resides within BRICS countries. Additionally, two BRICS members are permanent UN Security Council members, and around eight are G20 members.
BRICS Scientific and Research Standing
Beyond trade and economy, BRICS countries have strong scientific capabilities. Approximately 44 million patents have been registered during BRICS’ existence, representing nearly 52% of global patents.