BRICS has five more new members

Iran, Saudi Arabia, Egypt, Ethiopia, and the United Arab Emirates have formally joined the BRICS on January 1, 2024

The inclusion to expand the bloc’s footprint in the Global South.

The new bloc will represent roughly 46% of the world population

The group account for 30% of the world’s gross domestic product in nominal terms and 37% of global GDP at purchasing power parity.

Argentina’s new president Milei has withdrawn the country from its entry into BRICS.