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Question

BRICS is important in Global economy. Which of the following statement about BRICS is not correct ?

  1. It represents more than 40 percent of the global population.
  2. It represents around 24 percent of the World GDP.
  3. It represents around 46 percent of Global trade.
  4. First BRICS Summit was held in 2009 in Russia.

Answer:

Option C: It represents around 46 percent of Global trade.

Detailed Solution:

The correct answer is “It represents around 46 percent of Global trade.”.

BRICS brings together five major emerging economies, comprising 41% of the world population, having 24% of the world GDP and 16% share in the world trade.