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🍄 Expansion of BRICS :

The 15th BRICS summit in Johannesburg announced that the five-­member grouping (Brazil, Russia, India, China and South Africa) had invited six new members — Iran, Saudi Arabia, UAE, Egypt, Ethiopia and Argentina.

• With the proposed expansion, BRICS will have 46% of world population, while its share of the global GDP will go from 31.5% in PPP terms to 37%, far ahead of the GDP of 30.7% of the G­7.

• The five core members account for 23% of global exports and 19% of global imports; with the new members, these figures will be boosted by 3.7% and 3%, respectively.

• The major impact will be on the energy sector: out of global oil production of about 90 million barrels per day in 2022, the earlier five BRICS members had accounted for 20% of global output; this will go to 42%.

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32.7K viewsSep 6, 2023 at 04:30

🍄 Expansion of BRICS :

The 15th BRICS summit in Johannesburg announced that the five-­member grouping (Brazil, Russia, India, China and South Africa) had invited six new members — Iran, Saudi Arabia, UAE, Egypt, Ethiopia and Argentina.

• With the proposed expansion, BRICS will have 46% of world population, while its share of the global GDP will go from 31.5% in PPP terms to 37%, far ahead of the GDP of 30.7% of the G­7.

• The five core members account for 23% of global exports and 19% of global imports; with the new members, these figures will be boosted by 3.7% and 3%, respectively.

• The major impact will be on the energy sector: out of global oil production of about 90 million barrels per day in 2022, the earlier five BRICS members had accounted for 20% of global output; this will go to 42%.

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