BRICS stands for Brazil, Russia, India, China and South Africa — an economic bloc of major emerging economies. After a 2024–2025 expansion it now has about 10 members, including Egypt, Ethiopia, Iran, the UAE and Indonesia. Together the group produces well over a third of world GDP in purchasing-power terms.
What are the BRICS countries?
BRICS is a group of major emerging economies that coordinate on trade, finance and geopolitics as a counterweight to the Western-led G7. The name comes from the initials of the founding members. The bloc formed as “BRIC” in 2009, added South Africa in 2010 to become BRICS, and expanded again in 2024 and 2025.
| Member | Joined |
|---|---|
| Brazil | 2009 (founding) |
| Russia | 2009 (founding) |
| India | 2009 (founding) |
| China | 2009 (founding) |
| South Africa | 2010 |
| Egypt | 2024 |
| Ethiopia | 2024 |
| Iran | 2024 |
| United Arab Emirates | 2024 |
| Indonesia | 2025 |
| Saudi Arabia | Invited — status not yet confirmed |
Saudi Arabia was invited in 2023 but has not formally confirmed membership; sources differ on whether to count it. Argentina was invited and declined. A separate group of “partner countries” is not counted as full members.
How big is the BRICS economy?
The expanded bloc is an economic heavyweight. On a purchasing-power basis, BRICS+ accounts for about 36.7% of world GDP, ahead of the G7’s 29.6% (EY, using IMF data, 2024). The members also represent close to half of the world’s population, giving the group weight far beyond its share of global financial markets.
Key takeaways
- BRICS = Brazil, Russia, India, China, South Africa — plus 2024/2025 joiners.
- The bloc has about 10 confirmed members; Saudi Arabia’s status remains unconfirmed.
- BRICS+ produces ~36.7% of world GDP (PPP), ahead of the G7’s 29.6% (EY/IMF, 2024).
- It runs the New Development Bank but has no common currency.
What does BRICS do?
BRICS holds annual summits and coordinates positions on trade, development and reform of global institutions. Its main concrete creation is the New Development Bank, established in 2015 and headquartered in Shanghai, with $100 billion of authorised capital to fund infrastructure and development projects (New Development Bank). Despite frequent speculation, the group has no shared currency, though members discuss trading more in their own currencies.
Frequently asked questions
How many countries are in BRICS in 2026?
BRICS has about 10 confirmed full members after its 2024–2025 expansion: the five founders plus Egypt, Ethiopia, Iran, the UAE and Indonesia. Saudi Arabia was invited but has not confirmed, so some sources count 11.
Is Saudi Arabia in BRICS?
Not confirmed. Saudi Arabia was invited to join in 2023 and appears on some official lists, but it has not formally completed membership as of 2026. It is best described as invited, with its status pending.
Does BRICS have its own currency?
No. BRICS has no common currency. Members have discussed reducing reliance on the US dollar and trading more in local currencies, and they run the New Development Bank, but no shared BRICS currency exists.
Sources
- Government of Brazil (Planalto), Indonesia becomes full BRICS member, Jan 2025 — retrieved 2026-07-04 — gov.br
- New Development Bank, About NDB — retrieved 2026-07-04 — ndb.int
- EY, BRICS and global economic policy (IMF data) — retrieved 2026-07-04 — ey.com
- Encyclopaedia Britannica, BRICS — retrieved 2026-07-04 — britannica.com
Last updated: July 4, 2026
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