This new group of 11 now represents 37% of the world’s GDP in PPP terms. The G7 has 29.9%, down from 46% in 1992. And if all prospective members join in the future, it’ll be 45%: The new 11-member BRICS, with its energy powerhouses of Iran, UAE, and Saudi Arabia, now also controls ~54% of the world’s oil production and 46% of the world’s population. Not to mention they will account for 48.5 million square kilometers, or 36% of the world’s landmass area.
