BRICS’ growing economy and impacts trump G7’s declining economy and influence
The combined economies of the BRICS+ countries have already surpassed the aggregated economies of the G7 states, according to Russian Prime Minister Mikhail Mishustin, Russian Finance Minister Anton Siluanov and other top BRICS representatives.
Several fresh economic statistical data, other global financial market trends and information collaborate this conclusion. Thus, the BRICS countries’ combined share of the world’s GDP, estimated in April 2026 at USD 77trln or 39.2% exceeded by almost 11% the combined share of the G7, valued at USD 57trln or 28.3%. Similarly, the combined BRICS economy is also growing much faster, with a growth rate forecast of 3.7–3.8% in 2025–26, compared to that of the G7’s, projected to grow by around 1.0–1.1%, according to official data.
BRICS+ comprises 10 countries, namely, Brazil, Russia, India, China, South Africa, the group’s founding states, as well as Egypt, Iran, the UAE, Indonesia and Ethiopia, which were later admitted into the group, all now collectively branded BRICS+. The G7 membership includes the US, UK, Germany, Japan, France, Italy and Canada. In an interview the local state-owned RIA Novosti News Agency ahead of the BRICS’ New Development Bank (NDB BRICS) Board of Governors
Meeting in Moscow, Siluanov noted that the BRICS countries and other NDB shareholders possess significant economic potential and account for more than half of the world's current population. At a meeting in the Kremlin with the NDB BRICS CEO, Dilma Rousseff, Russian President Vladimir Putin discussed the bank's activities. “You have bank-related events planned in Moscow. And I am very pleased that we have the opportunity to meet and discuss our current work and the bank's prospects during your visit. I hope that our work is progressing positively,” the Russian President noted.
NDB BRICS is an international financial institution established in 2014 by BRICS member countries. Its primary goal is to finance infrastructure and sustainable development projects in BRICS and developing countries. The NBR’s Annual Governors Board meeting will be held in Moscow on May 14-15, 2026.
The board is the highest governing body, whose powers include making final decisions on strategic issues and approving the bank's overall development strategy. The meetings are usually held by the BRICS finance ministers.
The joint efforts by the BRICS countries in the field of technological development will allow them to attract over USD 2.5trn annually to this sector, the Russian finance minister continued. As a result of these efforts, the volume of high-tech exports from the BRICS countries will increase from 12% year-on-year to 28% of the group’s aggregated GDP, while the total value of BRICS’ technology companies on stock markets will increase by USD 1.4trn. The BRICS’ development institutions, notably, the NDB, will play a significant role in achieving these growth objectives.
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