BRICS Accounts for Almost 45% of Global Oil Reserves After Expansion
The BRICS countries account for 48.5 million sq. km, which is four times the G7 in terms of population
The BRICS group (Brazil, Russia, India, China, South Africa), having replenished with six new members – Argentina, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia, will become the owner of 44.35% of the world’s oil reserves. This is evidenced by TASS calculations based on official statistics. At the same time, the “Group of Seven” (USA, UK, Germany, Italy, Canada, France, Japan) has only 3.9%.
Now the BRICS countries account for 48.5 million square meters. km, which is 36% of the world’s area. This is more than double that of the G7. The total population will be 3.6 billion people – 45% of the world (more than four times the number of residents of the “Big Seven”).
One third of the world economy
The gross domestic product of the expanded BRICS in terms of purchasing power parity will reach $65 trillion – 37.3% of the world (G7 – 29.9%).
BRICS accounts for almost half of world food production – in 2021, the wheat harvest in these 11 countries accounted for 49% of the world (in the G7 – 19.1%), rice – 55% (in the G7 countries – 2.6%).
The BRICS also have an advantage in terms of their share in the world production of metals necessary for high technologies: they account for 79% of aluminum production (G7 – 1.3%) and 77% of palladium production (6.9%).
Although after the expansion BRICS will account for 38.3% of the total world industrial production (G7 – 30.5%), however, the advantage in terms of the share of exports will remain with the G7 – 28.8% against 23.4%.
