OREANDA-NEWS The BRICS share of global GDP in terms of purchasing power parity reached a record 35.7 percent by the end of 2023, while the share of the G7 economies decreased to 29%, according to RIA Novosti calculations according to the World Bank.

BRICS today unites ten countries: Brazil, Russia, India, China, South Africa, as well as Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. The "Big Seven" includes the USA, Japan, Germany, France, Great Britain, Canada and Italy.

By the end of last year, the share of the BRICS countries in the global economy amounted to a record 35.7 percent, having increased by 0.6 percentage points over the year. Since the creation of the association in 2006, its share in the economy has increased by 10.2 percentage points.

At the same time, the share of the "Big Seven" amounted to the lowest 29 percent in the last thirty years at the end of last year — the association lost 0.4 percentage points over the year. Since 2006, the share of the "seven" has decreased by 9.7 percentage points.

The rest of the countries accounted for 35.3 percent of global output last year — their share has generally remained stable since 1990, fluctuating within one percentage point.

Global GDP at purchasing power parity in 2023 amounted to $184.7 trillion, an increase of seven percent over the year.