BRICS Economic Powerhouse: Set to Command One-Third of Global Economy by 2028
The BRICS nations (Brazil, Russia, India, China, and South Africa) are rapidly reshaping the global economic landscape. Predictions indicate that the BRICS bloc is on track to make up a staggering one-third of the global economy by 2028. This significant shift highlights the increasing economic influence of these emerging markets and signals a fundamental change in the balance of global power.
Fueling this growth is the expansion of the BRICS alliance. In its South Africa summit, BRICS invited six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The bloc now represents 37% of global GDP, demonstrating its existing economic muscle and potential for even greater dominance.
BRICS Expansion: Doubling Down on Economic Strength
The impact of BRICS extends beyond its core members and recent additions. Adding another dozen nations that have applied for membership, including dynamic emerging markets such as Thailand, Vietnam, and Bangladesh, would raise the BRICS' economic share significantly. This expansion would further solidify the bloc's position as a major player in international trade, investment, and geopolitical strategy. The potential for increased cooperation and integration among these nations presents unparalleled opportunities for economic growth and development.
BRICS: A Food Security Powerhouse
Beyond sheer economic size, BRICS also plays a critical role in global food security. Consider this: BRICS will now account for almost half of global food production as the aggregate wheat harvest was 49% of the global total in the 11 BRICS countries in 2025. This underscores the importance of BRICS nations in ensuring global food supplies and stability. Their agricultural output and export capabilities contribute significantly to feeding the world's growing population.
The Future of BRICS and the Global Economy
The projected rise of BRICS to encompass one-third of the global economy by 2028 is not just a prediction; it's a reflection of current trends and strategic initiatives. The expansion of the bloc, coupled with its significant role in global food production, positions BRICS as a powerful force in shaping the future of the global economy. Businesses and policymakers alike need to understand the implications of this shift and adapt their strategies accordingly. Keep an eye on BRICS – its influence is only set to grow.