BRICS GDP in Purchasing Power Parity Reaches 37% Of the Global Economy
The newly extended BRICS alliance is financially stronger to take on the U.S. dollar and the West as a whole. The bloc inducted six new countries during the 15th summit in Johannesburg in August. The six countries to join BRICS are Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia. The GDP in purchasing power parity (PPP) of the BRICS members is now more than one-third of the global economy. Also Read: How Much Oil & Commodity Expanded BRICS Control? This makes the alliance control a larger share of the world’s economy through exports, including crude oil and natural gas. Therefore, BRICS could sooner or later control the exports of oil to the West and decide whether to accept the U.S. dollar or settle trade in a new or native currency. BRICS: GDP in Purchasing Power Touches 37.3% Source: timesofindia.com The extended BRICS GDP in purchasing power parity reached 37.3% of the overall global economy in September 2023. That is more than one-third of the...