BRIC Nations to Drive Global Growth

May 19, 2010
Brazil is forecast to grow 5.5%- 6% this year, China 10%, India 7%, Russia 5.5%

The world's top four emerging markets, the BRIC countries of Brazil, China, India and Russia, will account for two-thirds of global economic growth over the next five years, Brazilian Finance Minister Guido Mantega said on May 19.

"During the next five years, it is the emerging nations, the BRICs, which will lead global growth and represent two-third of the growth of the global economy," he said at a conference in Madrid on the Brazilian economy.

Brazil is forecast to grow between 5.5% and 6% this year, China by 10%, India by 7% and Russia by 5.5%, the minister said.

The BRICs, a term coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the growing influence of big emerging economies, will account for 61% of global gross domestic product growth in 2014, according to the International Monetary Fund.

The four nations, which represent 40% of the world population, already accounted for about half of global growth between 2000 and 2008.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Learn How Manufacturers like 3M Cater to Digital Buyers to Increase Sales

Aug. 13, 2023
In this article, you'll learn how manufacturers can balance educating and guiding their buyers through their complex buying process with a digital first approach to product discovery...

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!