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 <p><a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> inducted six new countries into the bloc, making the alliance financially stronger to take on the West. The six new countries that will join <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> are Saudi Arabia, the United Arab Emirates, Argentina, Egypt, Iran, and Ethiopia. Five of the new entrants are oil-producing countries, except for Argentina. This puts the <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> bloc in a unique position to challenge the U.S. dollar’s global supremacy. The combined <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> GDP is also growing tremendously and is much ahead of that of the United States’ GDP.</p> 
 <p><strong>Also Read: US &amp; Europe To Pay in Local Currencies For Oil After <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Expansion?</strong></p> 
 <p>Therefore, the 11-country alliance is looking to turn the page by ushering in a new financial era. The bloc is looking to shift the balance of power from the West to the East and make developing countries lead the global economy.</p> 
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 <h2 class="wp-block-heading" id="h-brics-gdp-with-new-members-reach-30-75-trillion">BRICS GDP With New Members Reach $30.75 Trillion</h2> 
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  <img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp" alt="brics alliance leaders flags currency" class="wp-image-108787" srcset="https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 1024w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 300w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 768w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 380w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 550w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 800w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 1160w, https://cdn.thebittimes.com/images/2023/08/28/7706ed7baa5acc4547d29ab294ea330a.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Reuters
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 <p>The combined overall GDP of the new 11-member BRICS will reach a total of $30.75 trillion in 2023. The U.S. GDP currently stands at $25.5 trillion, and the new BRICS are ahead by $5.25 trillion in that of the United States economy. The BRICS group is more economically powerful than the U.S. and could go further if they capture the global oil markets.</p> 
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 <p><strong>Also Read: <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Makes Huge Announcement on Trade Settlements</strong></p> 
 <p>Here’s the breakdown of the new BRICS GDP: China: $19.37 trillion. India: $3.74 trillion. Brazil: $2.08 trillion. Russia: $2.06 trillion. Saudi Arabia: $1.06 trillion. Argentina: $641 billion. UAE: $499 billion. South Africa: $399 billion. Egypt: $387 billion. Iran: $367 billion. Ethiopia: $156 billion. The total stands at a staggering $30.75 trillion as of August 2023, the month of the summit in Johannesburg.</p> 
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    <p lang="en" dir="ltr"><a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Total GDP With New Members: <br><br>🇨🇳 China: $19.37 trillion <br>🇮🇳 India: $3.74 trillion <br>🇧🇷 Brazil: $2.08 trillion <br>🇷🇺 Russia: $2.06 trillion<br>🇸🇦 Saudi Arabia: $1.06 trillion<br>🇦🇷 Argentina: $641 billion <br>🇦🇪 UAE: $499 billion<br>🇿🇦 South Africa: $399 billion<br>🇪🇬 Egypt: $387 billion<br>🇮🇷…</p>— Watcher.Guru (@WatcherGuru) August 27, 2023
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 <p><strong>Also Read: <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Officially Agrees To End Use Of US Dollar</strong></p> 
 <p>This makes the BRICS control 30% of the global economy. In addition, the new BRICS could take the lion’s share of the world’s economy by 2050. Bloomberg predicts that BRICS+ will boast a global GDP equal to 50% of the world’s economy in three decades.</p> 
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<div class="cs-entry__tags">
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  <li>BRICS</li>
  <li>BRICS GDP</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/brics-gdp-reaches-31-trillion-with-new-members-tbt60654.html">https://thebittimes.com/brics-gdp-reaches-31-trillion-with-new-members-tbt60654.html</a></p>

BRICS GDP Reaches $31 Trillion With New Members

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