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BRICS and G7 countries in global economy

At the BRICS summit on August 24, six more countries were admitted to BRICS: Argentina, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia. BRICS is an informal interstate organization. The acronym is derived from the names of its five founding countries in English: Brazil, Russia, India, China and South Africa.

Following the expansion of BRICS, the association accounts for more than 30% of the total land area and more than 40% of the world's population, 37% of world GDP, and 17% of the world's gold reserves.

Another major interstate association is the Group of Seven (G7). It includes the UK, Germany, Italy, Canada, USA, France and Japan. The group’s countries are home to 10% of the Earth’s population, occupy 16% of the world’s land area, account for approximately 30% of world GDP and almost 50% of gold reserves.

More about the economic indicators of BRICS and the G7 and their shares in the global economy in the TASS infographic.