According to the Indian research center SBI Research, with the arrival of the six new members, the BRICS organization will represent around a third of the world’s GDP, and nearly 40% of oil production.
With the arrival of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, the BRICS will enter another dimension. The organization will account for around 30% of global GDP, according to Indian research center SBI Research.
For now, as stated economic times, the BRICS today represent 26% of the world’s GDP. At the group level, China’s share of BRICS GDP, which currently exceeds 70%, will drop to 62%, while India’s, which reached 13%, will drop to 12%, and Russia from 8% to 7%. , Brazil will remain at 7% and South Africa at 2% to 1%.
40% of oil production and 46% of the world’s population
Another figure indicated by the Indian research center: the increase in oil production. With Abu Dhabi, Riyadh and Tehran, the share of black gold production will increase from 18% to almost 40%.
With the arrival of the six new members, the BRICS will represent nearly a quarter of world trade in goods and 15% of services and 46% of the world’s population.
The entry of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates was confirmed at the Johannesburg meeting on August 24. The six new countries will officially join the organization from January 1, 2024. An entry coinciding with that of Russia. BRICS presidency.
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