Bric Nation Gdp Analysis
BRIC NATION GDP ANALYSIS
(Source: www.laresearchgroup.com)
Since the late 1990s, the BRIC nations’ growth has increased than that of the United States and the European Union. As such, the BRIC countries have been increasingly referred to as a symbol of a shift in the global economic away from the developed G7 economies towards the developing world. The G7 is a group consisting of the finance ministers of seven industrialized nations: the U.S., U.K., France, Germany, Italy, Canada and Japan.
The above graph compares the World GDP, BRIC Nations GDP, United States and European Union GDP (G7 economies). The BRIC countries are typically lumped together because each country is deemed to be at a similar stage of newly advanced economic development. In total, the four BRIC countries encompass over 25% of the world’s land coverage, contain about 40% of the world’s population and account for about 17% of the world economy.
Year | Real GDP ($b) | Change (%) | 1981 | 2279.6 | 0.1 | 1982 | 2308.5 | 1.3 | 1983 | 2335.2 | 1.2 | 1984 | 2479.9 | 6.2 | 1985 | 2665 | 7.5 | 1986 | 2820 | 5.8 | 1987 | 2950 | 4.6 | 1988 | 3081.9 | 4.5 | 1989 | 3215.8 | 4.3 | 1990 | 3256.8 | 1.3 | 1991 | 3331.5 | 2.3 | 1992 | 3461.8 | 3.9 | 1993 | 3673.3 | -0.2 | 1994 | 3933 | 3 | 1995 | 4163.8 | 3.1 | 1996 | 4378.3 | 2.1 | 1997 | 4652.8 | 2.9 | 1998 | 4846.6 | 3.1 | 1999 | 5022.8 | 3.1 | 2000 | 5323.3 | 4.2 | 2001 | 5560.9 | 2.2 | 2002 | 5852.9 | 1.4 | 2003 | 6182.5 | 1.6 | 2004 | 6670 | 2.7 | 2005 | 7213.9 | 8.2 | 2006 | 7909 | 9.6 | 2007 | 8807.3 | 11.4 | 2008 | 9474.3 | 7.6 | 2009 | 10012.8 | 5.7 | 2010 | 10971.6 | 9.6 | 2011 | 11790.2 | 7.5 | 2012 | 12651 | 7.3 |
The above table shows the GDP value for the BRIC nations alone. The GDP (billion $) from the year 1981 to 2013 shows a continuous increase due to an overall effect of the four nations. Despite rapid growth, each BRIC country contributes for a large portion of
(Source: www.laresearchgroup.com)
Since the late 1990s, the BRIC nations’ growth has increased than that of the United States and the European Union. As such, the BRIC countries have been increasingly referred to as a symbol of a shift in the global economic away from the developed G7 economies towards the developing world. The G7 is a group consisting of the finance ministers of seven industrialized nations: the U.S., U.K., France, Germany, Italy, Canada and Japan.
The above graph compares the World GDP, BRIC Nations GDP, United States and European Union GDP (G7 economies). The BRIC countries are typically lumped together because each country is deemed to be at a similar stage of newly advanced economic development. In total, the four BRIC countries encompass over 25% of the world’s land coverage, contain about 40% of the world’s population and account for about 17% of the world economy.
Year | Real GDP ($b) | Change (%) | 1981 | 2279.6 | 0.1 | 1982 | 2308.5 | 1.3 | 1983 | 2335.2 | 1.2 | 1984 | 2479.9 | 6.2 | 1985 | 2665 | 7.5 | 1986 | 2820 | 5.8 | 1987 | 2950 | 4.6 | 1988 | 3081.9 | 4.5 | 1989 | 3215.8 | 4.3 | 1990 | 3256.8 | 1.3 | 1991 | 3331.5 | 2.3 | 1992 | 3461.8 | 3.9 | 1993 | 3673.3 | -0.2 | 1994 | 3933 | 3 | 1995 | 4163.8 | 3.1 | 1996 | 4378.3 | 2.1 | 1997 | 4652.8 | 2.9 | 1998 | 4846.6 | 3.1 | 1999 | 5022.8 | 3.1 | 2000 | 5323.3 | 4.2 | 2001 | 5560.9 | 2.2 | 2002 | 5852.9 | 1.4 | 2003 | 6182.5 | 1.6 | 2004 | 6670 | 2.7 | 2005 | 7213.9 | 8.2 | 2006 | 7909 | 9.6 | 2007 | 8807.3 | 11.4 | 2008 | 9474.3 | 7.6 | 2009 | 10012.8 | 5.7 | 2010 | 10971.6 | 9.6 | 2011 | 11790.2 | 7.5 | 2012 | 12651 | 7.3 |
The above table shows the GDP value for the BRIC nations alone. The GDP (billion $) from the year 1981 to 2013 shows a continuous increase due to an overall effect of the four nations. Despite rapid growth, each BRIC country contributes for a large portion of