Economic Comparison of BRICS and G7 Nations
Following the recent announcement that BRICS will admit 6 new members in 2024, I compared the GDP Purchasing Power Parity (PPP) between BRICS and G7 nations.
In 2010, when BRICS welcomed South Africa as a member, their combined GDP (PPP) was $23.9 trillion in contrast to the G7 nations' collective GDP (PPP) of $31.0 trillion.
However, fast-forward to 2021, and BRICS had surpassed the G7, with a combined GDP (PPP) of $46.7 trillion, while the G7's GDP (PPP) remained at $45.4 trillion.
Per the IMF, BRICS' projected figures in 2028 is expected to exceed that of the G7 by 21.2%, with BRICS at $75.1 trillion and G7 at $62.0 trillion, further widening the gap between the two blocs.
In 2010, when BRICS welcomed South Africa as a member, their combined GDP (PPP) was $23.9 trillion in contrast to the G7 nations' collective GDP (PPP) of $31.0 trillion.
However, fast-forward to 2021, and BRICS had surpassed the G7, with a combined GDP (PPP) of $46.7 trillion, while the G7's GDP (PPP) remained at $45.4 trillion.
Per the IMF, BRICS' projected figures in 2028 is expected to exceed that of the G7 by 21.2%, with BRICS at $75.1 trillion and G7 at $62.0 trillion, further widening the gap between the two blocs.
