What are the BRIC's
Brazil, Russia, India and China (the BRIC countries) are four of the world’s largest emerging economies which together represent approximately 40% of the world’s population, 15% of global GDP and more than a quarter of the world’s land area, with a combined population of 2.8 billion people, a combined GDP of USD8.7 trillion and a combined land area of 38.5 billion sqm, based on 2008 World Bank Data.
The BRIC are both the fastest growing and largest emerging markets economies. In recent times, the BRIC have also contributed to the majority of world GDP growth. By 2020, all of the BRIC should be in the top 10 largest economies of the world.
BRICs by the Numbers*
It is now possible that China's economy could become as big as the US by 2027 - in less than 18 years.
The BRICs could become as big as the G7 by 2032, about seven years earlier than originally believed possible.
Between 2000 and 2008, the BRICs contributed almost 30% to global growth in US Dollar terms, compared with around 16% in the previous decade.
Since the start of the financial crisis in 2007, some 45% of global growth has come from the BRICs, up from 24% in the first six years of the decade.
Long-term projections suggest that the BRICs could account for almost 50% of global equity markets by 2050.
BRIC economies will likely account for more than 70% of global car sales growth in the next decade, with China expected to account for almost 42% of this increase.
* as of December 2009