BRICS+ Expansion: Emerging Economies on Track to Surpass G7 in Global Trade

The BRICS+ alliance, comprised of Brazil, Russia, India, China, and South Africa, is expanding rapidly, positioning itself as a significant force in the global economy. The group’s recent expansion in 2024 added Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, increasing BRICS+ to nearly 45% of the world’s population and about 28% of global GDP—on par with, and soon expected to surpass, the G7 in terms of global trade share by 2026.

Key highlights of the BRICS+ group’s ascent include:

• Growing Trade Influence: As BRICS+ nations emphasize intra-bloc trade, they’ve lessened dependency on G7 markets, creating a robust economic zone with fewer ties to Western economies.
• Increased Global Impact: BRICS+ is positioned to challenge established Western-led institutions like the IMF and the World Bank, with the New Development Bank supporting infrastructure in emerging economies.
• New Membership: Nations such as Turkey and potentially others signal interest, indicating that BRICS+ could expand further, attracting economies seeking alternative partnerships.

While BRICS+ emphasizes collaboration among emerging markets, diverse political interests and economic structures present challenges. However, as the bloc strengthens, it’s expected to reshape global trade dynamics significantly, edging out the G7’s influence in the coming years​