BRICS 2024 Joint Statistical Publication

The BRICS Joint Statistical Publication (JSP) serves as a vital reference for understanding the socio-economic landscape of the BRICS nations, offering a comprehensive overview of key indicators across Brazil, Russia, India, China, South Africa, and other newly inducted members. This public document captures the dynamic changes and comparative statistics of these countries, presenting crucial data on economic activity, GDP trends, price indices, and living standards. The 2024 edition, compiled under Russia’s chairmanship, marks the 14th annual release and is structured into 15 chapters that detail past developments and current conditions. With an emphasis on accessibility, the JSP also includes appendices that provide insights into the statistical systems of member countries and the status of Sustainable Development Goals (SDGs) monitoring.

Originally composed of Brazil, Russia, India, and China, BRICS was expanded to include South Africa in 2010. In 2023, at the XV BRICS Summit, invitations were extended to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, with membership starting in January 2024.

Key Macroeconomic Indicators

Population (2023): China and India dominate, with populations of approximately 1.41 billion and 1.39 billion, respectively, while the UAE is the smallest, with 10.7 million.
GDP (2023, Current Prices): China leads with $17.89 trillion, followed by India at $3.57 trillion and Russia at $2.03 trillion. The UAE’s GDP is noted at $514 billion.
Per Capita GDP: The UAE has the highest per capita GDP at $48,141, while Ethiopia has the lowest at $1,549.
Inflation Rates: Vary widely, with Ethiopia (32.5%) and Egypt (33.9%) experiencing high inflation, while China has low inflation (0.2%).

Social and Economic Development

Life Expectancy: UAE has the highest life expectancy at 83.1 years, while Ethiopia is at the lower end with 66.5 years.
Unemployment Rates (2023): South Africa faces the highest unemployment at 32.1%, while the UAE has a low rate of 2.2%.
Public Expenditure: South Africa allocates a significant portion of GDP to education (6.8%) and health (4.5%), compared to Egypt’s lower spending in these areas.

Industrial and Agricultural Data

Industrial Production: India shows strong growth (105.9%), while South Africa lags behind (93.2%).
Agricultural Output: China leads in cereals (641 million tons) and meat production (97.5 million tons). Brazil is prominent in meat production with 27.6 million tons.

Energy and Environmental Statistics

Energy Production: China and Russia are major producers of coal and natural gas, while the UAE’s energy sector is also significant in oil production.
Electricity Production: China far exceeds other countries, producing 9,456 billion kWh.

External Economic Relations

Trade Balance: China holds the largest trade surplus, with exports at $3.51 trillion and imports at $3.12 trillion. The UAE and Russia also maintain favorable trade balances.
Foreign Exchange Reserves: China has the largest reserves, amounting to $3.24 trillion, while South Africa’s reserves are considerably lower at $62.5 billion.

Can be accessed at: https://cdn.brics-russia2024.ru/upload/docs/BRICS24_JointStatisticalPublication_FINAL.pdf?17292326088792175

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P Koshy

Author, Entrepreneur, and Development Professional, specializing in small enterprise policy, development studies, and entrepreneurship programmes. Contributor Global SME News & Director of Strategic Initiatives at The Enterprise Institute. Formerly, Sr. Economist at the World Association for SMEs, Economist at AMI International SAOC. His writings have been featured in publications including UN TODAY, Financial Express, Financial Chronicle, ERENET Journal, Indian Express.

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