BRICS nations collectively control more than 20% of the world’s gold reserves, according to the latest data from the World Gold Council. Leading the group is Russia, with 2,340 tons of gold, representing 8.1% of the global reserves. China closely follows with 2,260 tons, making these two nations responsible for 74% of BRICS’ total gold reserves.
India holds 840 tons, the highest among the remaining BRICS countries, which include Brazil, Egypt, South Africa, and the UAE. Each of these nations accounts for less than 3% of the global reserves, highlighting the concentrated gold wealth within the BRICS alliance.
The BRICS nations—Brazil, Russia, India, China, and South Africa—are considered some of the most influential emerging economies in the world. Collectively, they represent a significant portion of global wealth, resources, and economic power. Here’s a breakdown of their economic strength:
1. Gross Domestic Product (GDP)
Together, BRICS countries account for over 25% of the world’s GDP. As of 2023, the combined GDP of BRICS was estimated to be around $27.5 trillion. China alone contributes a substantial portion of this with a GDP exceeding $17 trillion, followed by India and Russia.
2. Population
The BRICS bloc is home to about 40% of the global population, giving them a massive consumer base and workforce. China and India together make up over 2.8 billion people.
3. Foreign Reserves and Gold Holdings
BRICS countries hold a significant share of the world’s foreign currency reserves, especially China, which is one of the largest holders of U.S. dollars. BRICS nations also control over 20% of the world’s gold reserves. Russia and China, in particular, are large accumulators of gold, as noted in your earlier data.
4. Natural Resources
The BRICS nations are rich in natural resources. Russia is a major producer of oil and gas, while Brazil is a key supplier of agricultural products and minerals. South Africa is a major producer of precious metals like platinum, and China dominates in rare earth elements used in technology manufacturing.
5. Trade and Global Influence
BRICS countries have significant influence in global trade. China, as the world’s largest exporter, plays a key role in global manufacturing, while Russia and Brazil are vital in energy and agricultural sectors, respectively. India, with its growing tech industry, is becoming a major player in services and digital innovation.
In summary, BRICS is a powerful economic bloc, with considerable wealth in terms of GDP, natural resources, and reserves. Their collective influence on global trade and finance continues to grow, positioning them as key drivers of the global economy.
