Gap between contribution of BRICS, G7 to global economy broke record
By the end of last year, the BRICS share in the global economy reached 36.8 percent, the highest gap with the G7 nations was registered, RIA Novosti reports with reference to the International Monetary Fund
The contribution of the BRICS countries to global GDP increased by 0.64 percentage points, while G7 lost 0.42 percentage points: a drop below 29 percent (28.86 percent) was registered for the first time. As a result, the gap between BRICS and G7 reached a record eight percentage points (in 2023, it stood at 6.9).
Among the reasons was the rapid growth of the BRICS countries, seven of which increased their contribution to the global economy. China's share rose by 0.34 percentage points (to make 19.45 percent), India’s – by 0.25 percentage points (8.25 percent), Russia’s – by 0.05 percentage points (3.54 percent), and Ethiopia’s – by 0.01 percentage points (0.27 percent). In addition, small increases of less than 0.01 percentage points were recorded in Brazil (2.4 percent), Iran (0.9 percent), and the UAE (0.4 percent).
Of all the BRICS countries, only Egypt and South Africa reduced their share in the global economy – by about 0.01 percentage points (to 1.14 and 0.5 percent, respectively).
At the same time, all G7 countries demonstrated a decrease in their contribution to global GDP, with Japan and Germany in the lead – by 0.1 percentage points each (to make 3.3 and 3.06 percent, respectively). The United Kingdom (2.2 percent), Italy (1.8 percent) and France (2.2 percent) lost 0.05 percentage points each. Canada's share stood at 1.3 percent against 1.4 a year earlier, and the US’ – 14.88 percent against 14.94.
BRICS is an interstate association created in 2006 by Russia, China, India and Brazil. In 2011, it was joined by South Africa. Since the beginning of 2024, Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia have become BRICS members, and Indonesia (its data was not taken into account in the analysis) joined in 2025.
