ST. PETERSBURG, RUSSIA / EuroWire / — Russian President Vladimir Putin said BRICS accounts for about 40% of global gross domestic product when measured by purchasing power parity. He made the remarks at the plenary session of the 29th St. Petersburg International Economic Forum. Putin said the figure shows the rising weight of emerging economies in global output, trade and investment.
Putin said BRICS countries produced 49% of annual global GDP growth over the past five years. He compared that with an 18% contribution from the Group of Seven economies. He also said BRICS growth rates exceed those of the G7. The remarks placed BRICS at the center of his address on changes in global economic activity.
The BRICS grouping includes Brazil, Russia, India, China and South Africa, along with newer members Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Saudi Arabia has received an invitation to join. The bloc brings together major energy producers, large consumer markets and several fast growing economies. Its members also account for more than 40% of the world’s population.
BRICS trade expands
Putin said BRICS has more than doubled its share of global merchandise trade since its creation. He said member states accounted for almost a quarter of global exports last year. Intra-BRICS trade has already exceeded $1 trillion, he added. He said business interest follows markets with stronger development and broader sales prospects.
The Russian president also cited growth in technology exports among BRICS members. He said the countries now hold more than one third of global high-tech exports. Putin pointed to China’s role in artificial intelligence patents and India’s role in software. He also said Russia has strengths in digital services, online platforms and nuclear energy technology.
SPIEF hosts economic talks
The St. Petersburg International Economic Forum runs from June 3 to June 6 under the theme “Pragmatic Dialogue: The Path to a Stable Future.” Saudi Arabia is the guest country at this year’s forum. The program includes sessions on small business, creative industries, youth economic issues and drug security. The Roscongress Foundation organizes the annual event.
The International Monetary Fund data published for 2025 also placed BRICS near 40% of global GDP on a purchasing power parity basis. The same data put the G7 share at less than 29%. Putin’s comments matched that measure, which adjusts output for price differences across countries. The comparison differs from nominal GDP, where advanced economies retain a larger combined share.