According to the Russian president, the BRICS nations’ combined GDP surpasses that of the G7 by $20 trillion.
President Vladimir Putin stated that BRICS has surpassed the G7 in terms of combined GDP.
Speaking at the 17th annual BRICS summit in Rio de Janeiro via video link, Putin noted that BRICS countries represent a third of the Earth’s land, almost half of the world’s population, and 40% of the global economy.
He added that BRICS’ combined GDP, measured by purchasing power parity, is $77 trillion based on 2025 IMF data, exceeding that of the G7.
The Russian president cited recent IMF data indicating the G7’s corresponding GDP is $57 trillion.
He also noted that BRICS nations are increasingly using their own currencies for trade within the bloc.
According to Putin, BRICS has become a key center of global governance with increasing global influence and represents the fundamental interests of the majority of nations.
Putin emphasized that “mutual respect” is a cornerstone of BRICS, fostering unity among diverse cultures and religions, making the group appealing to developing countries. He stated that the “unipolar system,” benefiting the “golden billion,” is collapsing, giving rise to a multipolar global economic system.
During the St. Petersburg International Economic Forum last month, Putin similarly described the declining world order as neo-colonial and highlighted a significant transformation in the global economy.
Around the same time, Kremlin spokesperson Dmitry Peskov stated that Russia considers the G7 format unviable, citing global trends indicating a shrinking share of global affairs and the global economy for the G7.
Founded in 2006 as an economic group, BRICS initially included Brazil, Russia, India, and China, with South Africa joining in 2010. Egypt, Ethiopia, the United Arab Emirates, and Iran have recently become full members.
At the BRICS summit in Kazan last year, a new ‘partner country’ status was approved due to growing membership interest from over 30 countries.
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