Cairo: Hani Kamal El-Din
The global economic landscape is undergoing a fundamental transformation as the BRICS alliance overtakes the G7 in its share of global GDP, marking a pivotal moment in the balance of economic power.
According to recent data from the International Monetary Fund (IMF) analyzed by RIA Novosti, BRICS accounted for 36.8% of global GDP in 2023, while the G7’s share slipped below the 29% threshold for the first time, falling to 28.86%. The result is an unprecedented 8 percentage point gap in favor of BRICS—a significant jump from the 6.9-point gap recorded the previous year.
This dramatic shift highlights the accelerating rise of emerging economies and the waning dominance of traditional Western powers in shaping the global economic agenda.
BRICS Growth: A Story of Expansion and Momentum
The surge in BRICS’ contribution to the global economy was largely driven by the robust performance of key member states. China, the world’s second-largest economy, increased its share to 19.45%, a 0.34-point rise. India followed with a gain of 0.25 points, reaching 8.25%, while Russia slightly increased its share to 3.54%. Newer members like Ethiopia, Iran, and the United Arab Emirates also contributed marginal increases, signaling the growing relevance of non-Western economies.
Only Egypt and South Africa experienced modest declines in their economic weight, each shedding 0.01 percentage points to reach 1.14% and 0.5% respectively.
G7 Slips: Stagnation and Declining Global Influence
While BRICS expands, the G7’s economic footprint is steadily shrinking. Every member of the group saw its global GDP share decline in 2023.
-
Japan and Germany posted the sharpest drops, each losing 0.1 percentage points, now standing at 3.3% and 3.06% respectively.
-
The UK, France, and Italy also saw declines of 0.05 points each, reducing their contributions to 2.2%, 2.2%, and 1.8%.
-
Canada dipped to 1.3% from 1.4%, and the United States, although still the largest single economy, saw a slight fall to 14.88% from 14.94%.
These declines reflect long-term structural issues in the West’s economic performance and competitiveness, from aging populations to sluggish growth.
Expanding the BRICS Tent: New Members, New Momentum
Originally formed in 2006, BRICS—comprising Brazil, Russia, India, China, and South Africa—has grown into a powerful bloc representing the collective interests of the Global South. In 2024, Egypt, Ethiopia, Iran, and the UAE officially joined the group. Indonesia followed in 2025, though its data was not yet included in the 2023 analysis.
With Russia assuming the rotating presidency of BRICS in 2024, the alliance is poised to deepen its influence, particularly through economic cooperation, financial infrastructure development, and a growing push to reduce dependency on Western-led institutions.
The group’s growing economic clout also strengthens its position in calls for reform of global governance bodies, including the IMF and World Bank, whose leadership structures are still dominated by G7 nations.
Strategic Implications: A World Order in Flux
The expanding gap between BRICS and the G7 is more than a matter of numbers; it signals a tectonic shift in global influence. Emerging economies are increasingly asserting themselves not only economically but also politically and diplomatically, reshaping institutions and alliances that have dominated since World War II.
While challenges remain—ranging from geopolitical tensions to economic disparities within BRICS—the momentum appears firmly on their side. With more countries expressing interest in joining, BRICS is evolving into a formidable alternative to the Western-centric global order.
