BRICS (Brazil, Russia, India, China, and South Africa) are a group of emerging economies that have been growing rapidly in recent years. They are expected to play an increasingly important role in the global economy in the coming years.
BRICS countries have a combined population of 4.3 billion people, which is about 42% of the world's population (2022 estimates). They also have a combined GDP of $25.9 trillion, which is about 26% of the world's GDP. This makes them a significant economic force in the world.
In addition to their large populations and economies, BRICS countries are also diverse in terms of their cultures and political systems. This diversity is one of the strengths of BRICS.
BRICS countries have been working together to promote their shared interests in the global economy. They have established a number of joint initiatives, such as the New Development Bank. These initiatives are designed to help BRICS countries to finance their development projects and to promote trade and investment between them.
BRICS countries are also playing an increasingly important role in global governance. They have been calling for a more equitable and representative system of global governance.
In their recently held summit in South Africa, they have extended invitations to 6 new countries: Argentina, Iran, Egypt, Ethiopia, UAE and Saudi Arabia to join the group.
The world should pay attention to BRICS countries and their growing influence.