BRICS expansion boosts economic weight but political clout remains limited

September 11, 2026 at 06:33 PM2 min

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The expanded 11-member BRICS bloc represents roughly half the world's population and 40 percent of global output at purchasing power parity, according to Al Jazeera data. Analysts say that economic scale has not yet translated into shared political power. The group's New Development Bank had approved about $39 billion in financing by end-2024, still largely dollar-denominated.

Key Facts

The 11-member BRICS group represents about half of the world's population and 40 percent of global output at purchasing power parity, according to Al Jazeera data.
BRICS economies are projected to grow about 3.7 percent in 2026, compared with about 1 percent for the G7, IMF data show.
The BRICS New Development Bank had approved about $39 billion in total financing by the end of 2024.
BRICS members Iran, the UAE, Saudi Arabia, Egypt, Ethiopia and Indonesia joined the original five of Brazil, Russia, India, China and South Africa.

Economic Weight vs Political Power

The expanded BRICS bloc accounts for roughly half of the world's population, 40 percent of global output at purchasing power parity, 44 percent of world oil production and about a quarter of global trade, according to Al Jazeera data. IMF projections show BRICS economies growing about 3.7 percent in 2026, while the G7 is expected to grow about 1 percent. Geostrategic analyst Imran Khalid argues that BRICS's real influence is weaker than its size suggests. The New Development Bank, created by BRICS, had approved about $39 billion in total financing by the end of 2024, with much of its funding still dollar-denominated.

Dollar Dependence

Despite rhetoric about reducing dollarization, most trade among BRICS countries is still conducted in dollars, and most members hold significant dollar reserves. China is pushing to increase use of the yuan, while Saudi Arabia has raised the option of trading in different currencies. Analysts cited in the article say dollar dependence remains one of the biggest structural obstacles to BRICS challenging Western economic dominance.

Alternative Platform, Not Replacement

Researchers Octavio Oliveira and Enzo Godinho of the University of Sao Paulo's BRICS Studies Group say the group's lack of a strong institutional structure like the United Nations does not diminish its importance. They argue BRICS's main value lies in providing a platform where Global South countries can make their voices heard and cooperate without Western involvement. Carleton University's Sean Burges says BRICS is not trying to take over the Western-led system but to give its members more room to maneuver. Burges identifies two factors holding the countries together: gaining more economic benefit from international trade and acting more independently of Western pressure on democracy and human rights.