Afrasianet - Kazan hosts one of the most prominent international events of the year the BRICS summit with the main theme of the summit being "Promoting multilateralism for just global development and security".

The sixteenth BRICS summit will summarize the results of Russia's presidency of the group, which includes 10 countries, 3 of which are Arab, so what is the weight of BRICS in the balance of the global economy?

BRICS is an international group created in 2006, initially comprising Russia, Brazil, India and China, and South Africa joined the group in 2011.

At the beginning of 2024, 5 new countries had joined the group: Egypt, the UAE, Saudi Arabia, Iran and Ethiopia.

The following are indicators that show the economic strength of the BRICS compared to the G7 :

- Area: The BRICS countries account for 33.9% of the total land area, while the area of the Group of Seven constitutes 16.1%.

 Population: BRICS countries have a population of about 45.2% of the world's population, while the G7  population constitutes about 9.7% of the total global population.

Economy : The size of the GDP of the BRICS based on the purchasing power parity criterion constitutes 36.7% of the global economy, compared to 29.6% for the Group of Seven countries.

 - Black gold: The BRICS countries have crude oil reserves  of 45.8% of the total global reserves, according to 2023 data, while the Group of Seven owns only 3.9%.

- Merchandise exports: In 2022, the BRICS group accounted for 24.9% of total global exports, compared to 27.9% for G7 countries .

- Wheat: The wheat crop of the BRICS countries in 2022 constituted about 44.7% of the total global wheat crop, while the shape of the wheat crop in the G7  countries was about 19.7%.

- Rice: The rice crop in the G7 countries in 2022 constituted about 54.8%, compared to 2.4% rice crop in the G7 countries.

Source: RT+ TASS