In 2025, the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—has evolved into a formidable coalition of emerging economies, collectively representing nearly half of the world’s population and over 41% of global GDP (PPP) . This expansion underscores BRICS’s ambition to reshape the global economic and political landscape, challenging traditional Western dominance and advocating for a more multipolar world order.
Expansion and Membership
The BRICS bloc has significantly broadened its membership base. In January 2025, nine countries—Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan—were officially welcomed as BRICS partners. This expansion aligns with the group’s strategy to enhance its influence in the Global South and promote economic cooperation among developing nations.
Additionally, Indonesia became a full member in early 2025, marking the first Southeast Asian country to join the bloc . These developments reflect BRICS’s commitment to inclusivity and its vision of a more diversified global economic framework.
Economic Influence and Initiatives
BRICS’s economic clout is evident in its control over significant global resources. The bloc dominates global oil production, holds substantial shares in critical minerals like lithium, and accounts for a significant portion of international goods trade.
To bolster economic cooperation, BRICS established the New Development Bank (NDB), which has mobilized over $71 billion to finance infrastructure and sustainable development projects across member countries. The NDB serves as an alternative to Western financial institutions, providing member states with greater autonomy in development financing.
In the digital economy, BRICS nations have made significant strides, achieving near-universal coverage of 3G and 4G networks, with ongoing efforts to roll out 5G technologies. These advancements are pivotal in fostering economic growth and technological innovation within the bloc.
Financial Systems and De-dollarization Efforts
A central objective for BRICS is to reduce dependency on the U.S. dollar in international trade and finance. To this end, the bloc has initiated the BRICS Pay system—a decentralized payment messaging mechanism designed to facilitate transactions in local currencies among member states.
Despite these efforts, Brazil’s central bank monetary policy director Nilton David acknowledged that BRICS is unlikely to amass sufficient assets to rival the dollar’s dominance in the next decade. Nonetheless, the development of alternative payment systems and bilateral trade agreements signals a concerted move towards a more diversified global financial system.
Geopolitical Stance and Global Diplomacy
BRICS has positioned itself as a proponent of multilateralism, advocating for reforms in international institutions to better reflect the interests of emerging economies. During a meeting in Rio de Janeiro, BRICS foreign ministers expressed concern over protectionist policies, emphasizing the need to uphold the multilateral trading system .
The bloc has also been active in addressing global conflicts, calling for dialogue and peaceful resolutions to crises such as the war in Ukraine and the situation in Gaza. These diplomatic engagements underscore BRICS’s commitment to fostering stability and cooperation in international relations.
Looking Ahead
As BRICS continues to expand and assert its influence, the bloc faces challenges in balancing diverse political systems and economic priorities among its members. However, its collective efforts in economic cooperation, financial innovation, and diplomatic engagement position BRICS as a significant force in shaping the future global order. The upcoming BRICS summit in Brazil in July 2025 is anticipated to further solidify the bloc’s role in addressing global challenges and promoting a more inclusive international system.
