Toba Owojaiye reporting
Abuja, Nigeria
The BRICS alliance, a leading forum for economic collaboration among Global South nations, has solidified its global influence by welcoming nine new partner countries as of January 1, 2025.
Truth Live News gathered that this expansion, following the inclusion of four new members in 2024, reflects BRICS’ ambition to transform the international financial system and reduce dependency on the U.S. dollar.
The new partners—Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan—join the existing nine members, positioning BRICS as a dominant economic bloc. Together, the members and partners represent nearly half of the world’s population and account for more than 41% of global GDP based on purchasing power parity (PPP).
China overtook the U.S. to become the largest economy on Earth in 2016, according to IMF data.
As of October 2024, China made up 19% of global GDP (PPP), compared to just 15% for the U.S.
BRICS, which began in 2009 with Brazil, Russia, India, and China, expanded to include South Africa in 2010. In 2023, six more nations were invited, with Egypt, Ethiopia, Iran, and the UAE joining in 2024. This growing coalition now includes some of the largest producers of vital resources like oil, gas, and minerals.
With major economies such as China, India, and Brazil leading the charge, BRICS surpasses the G7 in terms of economic clout, signaling a shift in global power dynamics. In fact, the original five BRICS members already represented a larger share of the global economy (33.76%) than the G7 (29.08%) in 2024.
The rapid economic rise of nations like China, now the largest global economy by PPP, underscores this shift. China alone accounted for 19% of global GDP in 2024, far outpacing the U.S. at 15%. As BRICS grows, it reflects a world increasingly influenced by the Global South and challenges the dominance of Western-led economic institutions.
The sixth-most populous nation, Nigeria, was invited to join BRICS as a partner, but did not give a formal answer in 2024.
While Algeria, Nigeria, Turkey, and Vietnam were also invited to become BRICS partners, they have yet to respond. Nevertheless, the current trajectory of BRICS highlights its potential to reshape global governance.
If BRICS nations can successfully align their strategies, they have the capacity to redefine the global economy, foster new trade networks, and promote a multipolar world order.
This expansion is more than symbolic; it represents a monumental shift in how global economic power is distributed. The next steps for BRICS will determine whether this coalition can realize its ambitious vision of collective action and long-term economic transformation.