Putin Says BRICS Outpaces G7 in GDP

(MENAFN) Russian President Vladimir Putin has declared that BRICS has overtaken the Western-led Group of Seven (G7) in terms of total GDP, signaling a dramatic shift in global economic influence.

Addressing the 17th annual BRICS summit in Rio de Janeiro on Sunday via video link, Putin emphasized the bloc’s expanding global footprint. He highlighted that BRICS nations collectively cover a third of the world's landmass and nearly half its population, while contributing to 40% of the global economy.

“BRICS member states not only account for a third of the Earth’s land, and almost half the planet’s population, but also 40% of the global economy,” he stated.

Citing projections from the International Monetary Fund for 2025, the Russian leader underscored that BRICS’ total GDP based on purchasing power parity (PPP) has reached $77 trillion. BRICS’ “combined GDP measured by purchasing power parity already stands at $77 trillion, that’s according to 2025 IMF data,” he said, adding, “on this metric, BRICS considerably outstrips some other groups, including the Group of Seven.”

Putin noted that the G7’s corresponding GDP stands at $57 trillion, according to the same IMF figures.

He further observed that BRICS nations are increasingly conducting trade using their own national currencies, bypassing traditional reliance on Western financial systems.

“BRICS has deservedly established itself among the key centers of global governance,” Putin remarked, asserting that the bloc’s “global standing and influence [are] rising by the year.” He stressed that BRICS represents the “fundamental interests of the global majority.”

Putin praised “mutual respect” as a foundational value of the alliance, describing it as a unifying force among countries with diverse cultures and religious backgrounds. This ethos, he argued, enhances the group's appeal among developing nations.
He also reiterated criticism of the current international system, saying, “the unipolar system of international relations, which has been serving the interests of the so-called ‘golden billion’,” is rapidly disintegrating and being replaced by a multipolar economic structure.

At last month’s St. Petersburg International Economic Forum, Putin made similar remarks, labeling the outgoing global order as “deeply neo-colonial” and describing a significant realignment underway in the world economy.

Around the same period, Kremlin spokesperson Dmitry Peskov asserted that Russia no longer views the G7—of which it was a member from 1998 to 2014—as a relevant body. “Because global trends indicate that the G7’s share in global affairs and the global economy will be inexorably shrinking,” Peskov said.

BRICS was originally established in 2006 as an economic alliance comprising Brazil, Russia, India, and China. South Africa joined in 2010. Over the past year, the bloc expanded further, adding Egypt, Ethiopia, the United Arab Emirates, and Indonesia as full members.

During last year’s summit in Kazan, Russia, the group introduced a new “partner country” category in response to growing interest from over 30 nations seeking closer ties with BRICS.

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