40 Facts About BRICS Nations

Formation and Evolution of BRICS

The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, have grown from an informal coalition to a significant global bloc. Let's explore their journey and impact.

1. 01The term 'BRIC' was coined by Goldman Sachs researchers in 2001 to highlight the potential of Brazil, Russia, India, and China as major economic players.
2. 02In 2006, the leaders of these four countries officially formed the BRIC group to coordinate economic and political efforts.
3. 03South Africa joined the group in 2010, expanding the acronym to BRICS.

Membership Expansion and Population

BRICS has expanded its membership and now includes several other countries, reflecting its growing influence.

4. 04At the 2023 summit, BRICS invited Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE to join.
5. 05Argentina declined the invitation, while Saudi Arabia is still considering its membership.
6. 06Indonesia officially joined as a full member in early 2025, becoming the first Southeast Asian member.
7. 07The original five BRICS countries housed a population of about 3.2 billion people in 2023, making up about 42% of the world population.
8. 08Today's BRICS+ (including new members) houses about 43% of the global population.

Economic Contributions and GDP

The BRICS economies play a crucial role in the global market, contributing significantly to the world's GDP.

9. 09The BRICS economies account for an estimated 37.3% of global GDP based on purchasing power parity (PPP).
10. 10China alone represents 19.05% of the global GDP, while India accounts for 8.23%.
11. 11The combined GDP of the original five BRICS countries generated 23% of the world's wealth.
12. 12BRICS+ generates 35% of the world’s GDP, showcasing their growing economic influence.

Geographical Distribution and Wealth

BRICS countries are spread across five continents, each contributing uniquely to the bloc's diversity and wealth.

13. 13The BRICS countries cover over 30% of the world’s land area, with BRICS+ covering about 32%.
14. 14Brazil is the largest country in South America, while Russia is the largest country in the world.
15. 15South Africa is the smallest country among the original BRICS members, with a population of about 61 million people.
16. 16The richest country with the highest GDP per capita among the BRICS nations is the United Arab Emirates.
17. 17The poorest country with the lowest GDP per capita is Ethiopia.
18. 18Brazil has a GDP per capita of $8,995, the third highest among the BRICS nations.

Employment and Informal Economy

Employment rates and the informal economy are significant aspects of the BRICS nations' labor markets.

19. 19South Africa has the highest unemployment rate among the BRICS countries, with an unemployment rate of 33%.
20. 20The overall unemployment rate in BRICS countries stands at 5.3%, totaling 84.7 million people.
21. 21An estimated 934.4 million people in BRICS countries work in the informal economy, with the majority in India.
22. 22The labor force participation rate in BRICS countries is 60.6%, totaling 1.5 billion people.
23. 23There is a significant gender gap in labor force participation, with men participating at 73.9% and women at 47.4%.

Energy Resources and Geopolitical Influence

Energy resources and geopolitical influence are key factors in the BRICS nations' global standing.

24. 24Russia is a superpower in terms of energy resources, with the world's largest natural gas reserves and second-largest coal reserves.
25. 25BRICS is increasingly becoming a major economic power in commodities trading.
26. 26With the addition of Iran, the UAE, and potentially Saudi Arabia, BRICS could control nearly half of oil production worldwide.
27. 27BRICS nations account for an estimated 35% of total oil consumption.

Leadership and Annual Summits

Leadership within BRICS rotates annually, with each member country hosting summits to discuss various issues.

28. 28The head of state of a member nation acts as the chairman of the group, rotating once a year.
29. 29The first official BRICS summit was held on June 16, 2009, in Yekaterinburg, Russia.
30. 30Since then, the bloc has held annual summits, with member countries taking turns to host.

Key Summit Highlights

Each BRICS summit has focused on different themes and issues, reflecting the bloc's evolving priorities.

31. 31The first summit in 2009 discussed the global recession and future cooperation among states.
32. 32The second summit in 2010 continued the conversation on the global recession and recovery.
33. 33The third summit in 2011 was the first to include South Africa as a member.
34. 34The fourth summit in 2012 discussed how the organization could prosper from the global recession.
35. 35The fifth summit in 2013 discussed the New Development Bank proposition and Contingent Reserve Agreement.
36. 36The sixth summit in 2014 saw the signing of the BRICS New Development Bank and BRICS Contingent Reserve Arrangement agreements.
37. 37The seventh summit in 2015 was a joint summit with the SCO-EAEU, focusing on global political and economic problems.
38. 38The eighth summit in 2016 was a joint summit with BIMSTEC, debating topics like counterterrorism, economies, and climate change.
39. 39The ninth summit in 2017 was a joint summit with EMDCD, discussing international and regional issues.
40. 40The tenth summit in 2018 focused on rising industries and cutting a bigger slice of the industry market.

The Growing Influence of BRICS Nations

BRICS nations have transformed from an informal coalition into a powerful bloc with significant global influence. With a combined population of over 3.3 billion, they represent more than 40% of the world's people. Their economic contributions are substantial, accounting for 37.3% of global GDP based on purchasing power parity. The addition of new members like Indonesia and potential future members like Thailand further strengthens their position.

BRICS' control over commodities, especially oil, and their substantial foreign reserves underscore their economic power. Initiatives like the New Development Bank and Contingent Reserve Arrangement highlight their commitment to financial stability and sustainable development. Annual summits and declarations emphasize cooperation on global challenges.

As BRICS continues to expand and deepen its cooperation, its role in shaping international relations and global economic development will only grow. This bloc is poised to become an even more significant player on the world stage.