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.
| Original BRICS Member |
Country | GDP (USD billions) | Share of Global (%) |
|---|---|---|---|
| Yes | Brazil | $2,081 | 2.0% |
| Yes | Russia | $2,063 | 2.0% |
| Yes | India | $3,737 | 3.6% |
| Yes | China | $19,374 | 18.4% |
| Yes | South Africa | $399 | 0.4% |
| No | Saudi Arabia | $1,062 | 1.0% |
| No | Iran | $368 | 0.4% |
| No | Ethiopia | $156 | 0.1% |
| No | Egypt | $387 | 0.4% |
| No | Argentina | $641 | 0.6% |
| No | UAE | $499 | 0.5% |
| – | BRICS Total | $30,767 | 29.3% |
| – | Rest of World | $74,362 | 70.7% |
The original six BRICS members are expected to have a combined GDP of $27.6 trillion in 2023, representing 26.3% of the global total. With the new members included, expected GDP climbs slightly to $30.8 trillion, enough for a 29.3% global share.
Share of Global Population
BRICS has always represented a major chunk of global population thanks to China and India, which are the only countries with over 1 billion people.
The two biggest populations being added to BRICS are Ethiopia (126.5 million) and Egypt (112.7 million). See the following table for population data from World Population Review, which is dated as of 2023.
| Original BRICS Member |
Country | Population | Share of Global (%) |
|---|---|---|---|
| Yes | Brazil | 216,422,446 | 2.7% |
| Yes | Russia | 144,444,359 | 1.8% |
| Yes | India | 1,428,627,663 | 17.8% |
| Yes | China | 1,425,671,352 | 17.7% |
| Yes | South Africa | 60,414,495 | 0.8% |
| No | Saudi Arabia | 36,947,025 | 0.5% |
| No | Iran | 89,172,767 | 1.1% |
| No | Ethiopia | 126,527,060 | 1.6% |
| No | Egypt | 112,716,598 | 1.4% |
| No | Argentina | 45,773,884 | 0.6% |
| No | UAE | 9,516,871 | 0.1% |
| – | BRICS Total | 3.7 billion | 46.0% |
| – | Rest of World | 4.3 billion | 54.0% |
Share of Oil Production
Although the world is trying to move away from fossil fuels, the global oil market is still incredibly large—and BRICS is set to play a much bigger role in it. This is mostly due to the admission of Saudi Arabia, which alone accounts for 12.9% of global oil production.
Based on 2022 figures from the Energy Institute Statistical Review of World Energy, BRICS’ share of oil production will grow from 20.4% to 43.1%.
| Original BRICS Member |
Country | Thousand Barrels per Day |
Share of Global (%) |
|---|---|---|---|
| Yes | 🇧🇷 Brazil | 3,107 | 3.3% |
| Yes | 🇷🇺 Russia | 11,202 | 11.9% |
| Yes | 🇮🇳 India | 737 | 0.8% |
| Yes | 🇨🇳 China | 4,111 | 4.4% |
| Yes | 🇿🇦 South Africa | 0 | 0.0% |
| No | 🇸🇦 Saudi Arabia | 12,136 | 12.9% |
| No | 🇮🇷 Iran | 3,822 | 4.1% |
| No | 🇪🇹 Ethiopia | 0 | 0.0% |
| No | 🇪🇬 Egypt | 613 | 0.7% |
| No | 🇦🇷 Argentina | 706 | 0.8% |
| No | 🇦🇪 UAE | 4,020 | 4.3% |
| – | BRICS Total | 40,454 | 43.1% |
| – | Rest of World | 53,394 | 56.9% |
