BRICS makes up 35% of global GDP
BRICS countries now make up 35 per cent of the global GDP, surpassing the G7 states, which account for 30 per cent, representing a shift not seen in the past 30–40 years, Russian Deputy Foreign Minister Alexander Pankin stated.
The diplomat noted that trade between countries in the Global South now exceeds trade between the Global South and North, challenging the traditional view that developing countries primarily trade with Western partners.
“This is why we have set a course for global diversification of international co-operation with all regions of the South, with Asia, with Africa, and with Latin America,” he said, emphasising the importance of developing supply chains, production networks, and transportation links.
Attribution: TASS.
