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BRICS Countries Overtake #G7 Nations in Global #GDP
The BRICS countries, comprising Brazil, Russia, India, China, and South Africa, have surpassed the G7 nations in economic might. When purchasing power parity is considered, these nations hold the top spot and form the largest global gross domestic product (GDP) bloc.
BRICS countries led by China and India have officially overtaken G7 in share of world PPP GDP
and now contribute 31.5% of global GDP, with further projected growth.
Compared to G7 countries, which include Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union (E.U.), have seen a reduction of about 30% in their GDP.
The BRICS is also expanding – Bangladesh, Egypt and the UAE have all just joined the BRICS New Development Bank, with numerous other countries poised to do the same.
