BRICS countries above G7 by GDP volume — official

BRICS countries are above G7 countries by the GDP volume, Deputy Presidential Administration Chief Maxim Oreshkin said at the Territory of Meanings forum.

"If we look at such global mega trends from the standpoint of the structure in the global economy, the structure is actually changing dramatically during the last decades. If, for example, G7 countries were twice above the size of BRICS countries in 1990s, then BRICS countries are already above the volume of the countries of the Group of Seven in terms of the GDP volume," Oreshkin said. The ‘Great Seven’ is not great anymore, he noted.

"The center of the economic activity, the center of already created economic potential, it is outside the Group of Seven. Indeed, if you look at all global ratings of countries of the world by the economic size, you will see China ranks first among the top five ones, India is third, and Russia is fourth," Oreshkin said.