BRICS
![BRICS representatives at the 2023 summit, from left to right: [[Luiz Inácio Lula da Silva|Lula da Silva]], [[Xi Jinping]], [[Cyril Ramaphosa]], [[Narendra Modi]], and [[Sergey Lavrov]]](https://upload.wikimedia.org/wikipedia/commons/7/76/2023_BRICS_Summit_family_photographs.jpg)
The founding countries of Brazil, Russia, India, and China held the first summit in Yekaterinburg in 2009, with South Africa joining the bloc a year later. Iran, Egypt, Ethiopia, and the United Arab Emirates joined the organisation on 1 January 2024. Saudi Arabia is yet to officially join, but participates in the organisation's activities as an invited nation.
Combined, the BRICS members encompass about 30% of the world's land surface and 45% of the global population. and an estimated total population of about 3.67 billion.}} South Africa has the largest economy in Africa whereas Brazil, Russia, India, and China are among the world's ten largest countries by population, area, and gross domestic product (GDP) nominal and by purchasing power parity. All five initial member states are members of the G20, with a combined nominal GDP of US$28 trillion (about 27% of the gross world product), a total GDP (PPP) of around US$57 trillion (33% of global GDP PPP), and an estimated US$4.5 trillion in combined foreign reserves (as of 2018).
The BRICS countries are considered the foremost geopolitical rival to the G7 bloc of leading advanced economies, implementing competing initiatives such as the New Development Bank, the BRICS Contingent Reserve Arrangement, the BRICS pay, the BRICS Joint Statistical Publication and the BRICS basket reserve currency.
BRICS has received both praise and criticism from numerous commentators. Provided by Wikipedia