The expansion of the BRICS group and the prospects for its development: an analytical study.

One of the main goals of the BRICS group is to encourage trade, political, and cultural cooperation among the member countries. All five BRICS countries are industrial nations, characterized by their large economies, and all member countries have achieved sustainable growth, except perhaps for Russia, more than most other countries, except during the COVID-19 crisis. One of the most important indicators of the significance of BRICS for the global economy is its share of foreign currency reserves, with four member countries among the top ten countries holding reserves that account for about 40% of the world's total reserves. China alone possesses $2.4 trillion. It is also considered the second largest creditor after Japan, and the BRICS group represents the largest economies outside the Organization for Economic Cooperation and Development, serving as a club for wealthy emerging economies. In addition to the economic significance of the group, there is demographic importance, as half of the world's population lives in the five countries, and the combined gross domestic product of these countries equals that of the United States (13.6 trillion dollars), while the total foreign exchange reserves of the member countries amount to four trillion dollars.