Graphic representation of BRICS expansion-Source

Visualising the BRICS Expansion in Charts: BRICS is an association of five major countries including #Brazil 🇧🇷, #Russia 🇷🇺, #India 🇮🇳, #China 🇨🇳, and #SouthAfrica 🇿🇦. Distinguished by their emerging economies, the group has sought to improve diplomatic coordination, reform global financial institutions, and ultimately serve as a counterbalance to Western hegemony.

On Aug. 24, 2023, #BRICS announced that it would formally accept six new members at the start of 2024: #SaudiArabia 🇸🇦, #Iran 🇮🇷, #Ethiopia 🇪🇹, #Egypt 🇪🇬, #Argentina 🇦🇷, and the #UnitedArabEmirates 🇦🇪(UAE).

In this graphic, we provide a #data-driven overview of how the BRICS expansion will grow the group’s influence and reach.

Share of Global GDP

Because most of the new BRICS members are considered to be developing economies, their addition to the group will not have a major impact on its overall share of #GDP.

The following table includes GDP projections for 2023, courtesy of the #IMF. Continue reading.