- BRICS is the acronym coined to associate five major emerging national economies: Brazil, Russia, India, China, and South Africa.
- The BRICS members are known for their significant influence on regional affairs.
- Since 2009, the BRICS nations have met annually at formal summits.
- Originally the first four were grouped as BRIC before the induction of South Africa in 2010.
- The BRICS have a combined area of 39,746,220 sq. km(88% of the world land surface) and an estimated total population of about 3.21 billion(41% of the world population).
- These five nations had a combined nominal GDP of US$19.6 trillion(about 23.2% of the gross world product).
- The New Development Bank (NDB), formerly referred to as the BRICS Development Bank. It is a multilateral development bank operated by the BRICS states.
BRICS(Brazil, Russia, India, China, and South Africa)
1 min read
By Anit Kumar
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