While South Africa has been a part of BRICS since 2010, it has always been something of an outlier among its partners in the bloc.<\/p>\n\n\n\n
The grouping has always touted its economic weight and representation – boasting that the bloc represents over 40% of the global population and almost 30% of global GDP. <\/p>\n\n\n\n
However, South Africa’s contribution to this is tiny compared to the powerhouses of China, India, Russia and Brazil. <\/p>\n\n\n\n
South Africa represents only 1.6% and 1.8% of the total GDP and population covered by the original five members (2022 figures).<\/p>\n\n\n\n
In that sense, South Africa has always been punching far above its weight in the partnership – though not completely beyond all reason.<\/p>\n\n\n\n
The southern tip of Africa has long held a strong position as the gateway into the rest of the continent. <\/p>\n\n\n\n
Even though this position has shown signs of faltering in recent years, a stable and mature financial market, along with a strong constitution, tight regulations and relative political stability, still make it an appealing destination for multinational trade and business.<\/p>\n\n\n\n
Add to that strong commodities and mineral resources that are in-demand world-wide, it’s easier to understand why South Africa found its place among the heavyweights in emerging markets.<\/p>\n\n\n\n
With the BRICS bloc now extending an invitation to six more countries to officially join the partnership, South Africa’s position has gone from being at the bottom of the list in the grouping to more of a middling one. <\/p>\n\n\n\n