BRICs’ Production Output Pace Is Slowing, But They Are Still Formidable In World Economy

Real output rates in the so-called “BRIC” countries – Brazil, Russia, India and China – are slowing as the labor forces grow older and smaller, and production capacities have become strained. But that doesn’t mean the BRICs are becoming less relevant to the global economy, according to Euromonitor. On the contrary, they represent 41.3 percent of the total global population in 2013 and 20.2 percent of total global GDP (expected to rise to 23.8 percent of total global GDP by 2020). This year consumer expenditure in the BRICs will account for 15.8 percent of total global consumer expenditure, which in real terms this will rise to 19.7 percent of total global expenditure by 2020. In fact, the market researcher says, “[the BRICs] will continue to offer opportunities to investors in the long term”.