The combined economic output of the BRICS+ countries is projected to surpass that of the G7 nations by 2045, according to a global economic forecast by the Economist Intelligence Unit (EIU), the research arm of The Economist Group.

The forecast indicates a narrowing gap between these two economic blocs over the coming decades. In 2020, the BRICS+ economies were valued at $20 trillion, while the G7 economies totaled $40 trillion. The EIU predicts that by 2025, the BRICS+ economies will grow to over $30 trillion, with the G7 reaching beyond $50 trillion. By 2030, the respective figures are expected to be $40 trillion and $60 trillion. Moving into 2040, the gap will continue to close, and by 2045, the gross domestic product (GDP) of both groups is projected to be equal to $100 trillion. This convergence is attributed in part to India’s growing economic influence within the BRICS+ bloc from 2040 onwards.

The report notes that the rising economic clout of developing nations is likely to have significant geopolitical implications.

The BRICS alliance, originally consisting of Brazil, Russia, India, China, and South Africa, expanded at the beginning of 2024 to include Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates, and Iran. Together, these countries account for 46% of the world’s population and 29% of global GDP.