BRICS Outpaces G7, The Undeniable Economic Rebalancing

The BRICS+ now holds a larger share of world GDP than the G7. Originally consisting of Brazil, Russia, India, China, and South Africa, the bloc has expanded to include Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates. When measured by purchasing power parity (PPP), BRICS+ has surpassed the industrialized G7 bloc. Two decades ago, the G7 accounted for around 42% of global economic output per PPP, while BRICS+ had 24.1%. Currently, BRICS+ represents approximately 40%, while G7 holds 28.8%. The crossover occurred in 2018 and accelerated during the COVID-19 Pandemic.