G7 & BRICS: Economic Growth Forecasts for 2024

What We're Showing

The International Monetary Fund's (IMF) real GDP growth forecasts for 2024 for the G7 and BRICS member nations along with Saudi Arabia, which has not yet accepted its invitation the bloc.

This visual is part of a special dispatch breaking down the IMF's 2024 World Economic Outlook report.

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Mixed Growth Prospects for Major Nations

Growth projections for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.

Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected growth rates in 2024 than last year.

On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.

Faster Growth for BRICS than the G7

Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations have a significantly higher average growth forecast than the G7.

While G7 nations are forecasted to average 1% of real GDP growth in 2024, BRICS countries' average forecast is 3.6%.

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This visual is part of an exclusive special dispatch for VC+ members which breaks down the key takeaways from the IMF's 2024 World Economic Outlook.

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