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BRICS is an intergovernmental organization consisting of ten countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. It is considered to be a counterpart and alternative to the G7 bloc of the world's largest economies and combined represent nearly half [ 2 ] of the world's population.
These countries are considered major European powers and they are the Western European countries individually represented as full members of the G7, the G8, the G-10 and the G20. This also has an impact on the Eurovision Song Contest , when these countries added to Spain , are turned the BIG 5.
The G7 countries have together a population of about 780 million people (or almost 10% of the world population), comprise around 50% of worldwide nominal net wealth and as of 2024 about 30% of world GDP (as by purchasing power parity) and more than 44% of nominal gross domestic product. [12] [13] [14]
The table initially ranks each IMF member including sovereign states not part of the IMF, non-sovereign nations and territories, and countries with limited recognition The links in the "Country/Territory" row of the following table link to the article on the GDP or the economy of the respective country or territory.
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G7 summit meetings originated in an ad hoc gathering of finance ministers in 1973. Meetings of finance ministers, labour and employment ministers, environment ministers, foreign ministers and trade ministers and other ad hoc ministerial meetings [ 1 ] have taken place within the country designated for the annual G7 or G8 summit.
Dominic Raab held talks with his American counterpart Antony Blinken on Monday.
The G8 countries were not strictly the largest in the world nor the highest-income per capita, but they do represent the largest high-income countries. "G7" can refer to the member states in aggregate or to the annual summit meeting of the G7 heads of government. G7 ministers also meet throughout the year, such as the G7 finance ministers (who ...