In the economy, BRICS defeated the G7 in 2023

The founding members of BRICS, an economic bloc made up of emerging countries, achieved economic growth in 2023 compared to the economies of the great world powers of the G7.

On average, Brazil, China, India, Russia and South Africa grew 3.92% last year, while the United States, Germany, France, United Kingdom, Italy, Canada and Japan had an average growth rate that did not exceed 1.04%.

In the BRICS, India was the country whose GDP grew the most among the economies mentioned, a jump of 7.3% compared to 2022, followed by one of the world powers, China, which saw its GDP grow 5.2% in the same period.

Russia and Brazil also had an important result, with 3.6% and 2.9%, respectively. The performance of both countries is better than the G7. South Africa had the worst growth among BRICS countries, with 0.6% growth between 2022 and 2023.

BRICS:
India: 7.3%
China: 5,2%
Russia: 3.6%
Brazil: 2.9%
South Africa: 0.6%

The G7 countries achieved timid growth, led by the United States, which grew 2.5% in 2023, followed by Japan and Canada, with 1.9% and 1.5%. European countries did not achieve a single point of GDP growth: France, 0.9%; Italy, 0.7%; and the United Kingdom, 0.1%.

Germany was the only nation among those observed where a slowdown in gross domestic product was recorded. In 2023, the country shrank 0.1% compared to the result of 2022.

G7:
United States: 2.5%
Japan: 1.9%
Canada: 1.5%
France: 0.9%
Italy: 0.7%
United Kingdom: 0.1%
Germany: -0.3%