The Four BRIC Countries

The BRIC countries refer to a select group of four large, developing countries (Brazil, Russia, India and China). The four BRIC countries are different from a host of other promising emerging markets by their demographic and economic potential to rank among the world’s largest and most influential economies in the 21st century (and by having a reasonable chance of realizing that potential). The BRIC countries population comprises of about more than 2.8 billion people or we can say it’s about 40 percent of the world’s population, cover more than a quarter of the world’s land area over three continents, and accounts for more than 25 percent of global GDP.

The BRIC designation was first coined by Jim O’Neil of Goldman. Some of the objectives of

• Diversified industry: accounting of one third of GDP, Brazils diverse industries range from automobiles, steel, petrochemicals, aircraft and consumer durables.

• Service sector: shift toward the service sector from the mid-1980s.however, agriculture, fishery mining and manufacturing sectors are growing faster giving the rising price of food, and mineral resources.

• Russia top sectors: oil and gas, power engineering ,financial services, transportation

• OIL AND GAS: World’s second largest oil producing country, with up to 14% of world proved oil in reserves and 36% of world gas reserves.

• ICT: Information and communication tech: fastest developing sectors in Russian economy with annual growth rate of 20-25%.russian mobile telecommunication market is the third largest in the

• Russia is now a member of world trade organization (WTO) in the year of 2011 after 16 years of negotiation

• Russia is still heavily dependent on its natural resources for much of its GDP. As seen in the economy the country has definitely made substantial improvement in areas like innovation and trade freedom, yet the key challenges it still faces are from widespread corruption, disparate wealth distribution, and a lack of investor and consumer confidence.

• Brazil: The Brazilian industrial sector makes up three-fifths of Latin America's industrial production. The agricultural and mining sectors also remain highly productive.

• Service sector accounts for the largest component of their GDP at 67 percent Brazil has also undertaken a program designed to reduce dependence on imported petroleum. Both the countries will become dominant suppliers of raw materials. The exchange rate has been managed off much better compared to over the past few years.

• The government of Brazil also plans to construct 19 nuclear plants by