n Management Today - South Africa and BRICS : the news




In recent years, the BRICS has evolved into a powerful grouping of the world's leading emerging economies. In 2011 the BRICS's share of global gross domestic product (GDP) based on purchasing power parity amounted to about 25%; they occupy 30% of the global territory; and they are home to 45% of the world's population. The contribution of the BRICS countries to global economic growth over the last decade has reached 50%, which makes this group of states the leading power in global economic development. Some analysts predict that BRICS could become as big as the G7 by 2027.


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