Iran and Argentina apply to join BRICS infographic
Graphic shows details of BRICS group members and prospective members.
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ECONOMY

Two new countries apply to join BRICS

June 28, 2022 - Iran and Argentina have applied to join the BRICS group of emerging economies – Brazil, Russia, India, China and South Africa. BRICS-IA will have a GDP of over $26 trillion, more than the U.S.

Iran’s membership in the BRICS group “would result in added values for both sides”, Iran's Foreign Ministry spokesperson said. Russia said Argentina had also applied to join, according to Reuters.

Argentine officials could not be reached for immediate comment but President Alberto Fernandez, currently in Europe, has in recent days reiterated his desire for Argentina to join BRICS.

China has by far the largest economy in the BRICS grouping, accounting for more than 70% of the group’s collective $27.5 trillion economic might. India accounts for about 13%, with Russia and Brazil each accounting for about 7%, according to IMF data.

BRICS account for more than 40% of the world's population and about 26% of the global economy, Reuters said.

Sources
PUBLISHED: 28/06/2022; STORY: Graphic News
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