Thick as a BRIC
Home Textiles Today Staff -- Home Textiles Today, 8/4/2011 1:25:44 AM
The value in the world market of total trade with BRIC nations - Brazil, Russia, India and China - has grown seven-fold over the past decade, and the IMF expects economic development in BRIC countries to become more prominent in the post recession era.
Share of World GDP | |||
COUNTRY | 2007 | 2011 | 2014 (PROJ) |
U.S | 21.07 | 19.33 | 18.26 |
UK | 3.31 | 19.33 | 18.26 |
Japan | 6.55 | 5.92 | 5.36 |
Germany | 4.29 | 3.82 | 3.48 |
Brazil | 2.08 | 2.88 | 2.81 |
Russia | 4.52 | 3.35 | 3.41 |
India | 4.75 | 5.23 | 5.71 |
China | 10.47 | 13.37 | 15.45 |
BRIC aggregate GDP was 5.8% of the global economy in the early years of the 1990s, but is expected to account for 21.6% four years from now. By comparison, GDP for the United States in 2015 is projected to account for 22.0% of the global economy.
Real GDP Growth | ||
COUNTRY | 2007 | 2011 |
Brazil | 6.1 | 5.0 |
Russia | 8.1 | 5.5 |
India | 9.0 | 8.7 |
China | 13.0 | 10.0 |
Going forward, the BRICs look to be paved with gold.
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