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Get the facts on Brics

Mar 26 2013 18:49 Sapa
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President Jacob Zuma and Chinese President Xi Jinping talks business ahead of the two-day Brics summit in Durban. (GCIS) View Brics slidehow

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Durban - As the leaders of Brics five emerging nations meet in Durban for a summit on Tuesday, economic data shows that the grouping of Brazil, China, India, Russia and South Africa now account for 25% of global GDP and 40% of the world's population.

Here are some facts and figures about Brics:

China

Boasting the world's second largest economy - trailing only the United States - economic power-house China has become the informal leader of the group.

With a gross domestic product (GDP) of $8.25 trillion in 2012, the IMF estimates that the Chinese economy will climb by a whopping 8.2 percent in 2013.

In 2011, it clinched the No. 1 spot as exporter of goods.

It remains the globe's most-populated country, with 1.34 billion inhabitants.

Brazil

With a GDP of $2.425 trillion in 2012, Brazil is the world's seventh largest economy. It holds only a modest place in world trade activity, however, and experienced sluggish growth of one percent last year.

The Brazilian economy, with its population of 196 million people, is forecast to grow 3.5% this year.

Russia

Ranking ninth on the list of the world's biggest economies, Russia accumulated a GDP of $1.953bn in 2012, boosted mainly by its gas exports, making it the world's eighth largest exporter.

With a population of 141.9 million, Russia has managed to fend off much of the financial fallout caused by the European debt crisis, and despite experiencing a slight slow-down in economic growth in 2012, its economy is forecast to jump 3.7% in 2013.

India

Despite its population of 1.24 billion, India remains a smaller player among the world's economies, falling into a 10th place with a GDP worth 1.946 trillion.

After shrinking from 7.9% to 4.5% growth between 2011 and 2012, India's economy is expected to expand 5.9% this year.

South Africa

Smallest of the Brics economies is South Africa. Placing 41st world exporters, the country has a GDP of $390 billion and a population of 50.5 million.

Having suffered amid the global financial down-turn, South Africa's economy is forecast to grow by 2.8% this year and by 4.1% next year.

Slideshow: Higher investment for Brics - UN

Video: Brics wrangle over new development bank


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