BRICS Summit 2026: How the grouping is reshaping the global economic order
Summary
BRICS has grown into a major economic and geopolitical bloc, accounting for nearly 40% of global GDP on a purchasing-power-parity basis and expanding trade and investment ties among emerging economies. The grouping is pushing for greater Global South representation, local-currency financing and reforms to global institutions while stopping short of a direct challenge to the Western-led order.
Key Points
- BRICS economies accounted for nearly 40% of global GDP in 2024, while intra-BRICS trade rose more than 13-fold to about USD 1.17 trillion.
- The bloc has expanded beyond the original five members to include countries such as Egypt, Ethiopia, Iran, Indonesia, the UAE and Saudi Arabia.
- The New Development Bank is BRICS’ most concrete institutional achievement, supporting infrastructure, sustainable development and local-currency financing.
- The article argues that BRICS has shifted global economic influence toward a more multipolar order without fully replacing the Western-led system.
