BRICS is set to add six new member states at the start of 2024, raising questions about the group's growing economic power. As shown in this graphic, BRICS (with its new members) will represent over $30 trillion in GDP (29% of global).

While this falls short of the G7's 43% share, the gap is likely to shrink. Major BRICS nations such as India continue to grow at an above-average rate, and the group is expected to welcome even more members in the future.