IMF data shows BRICS now account for roughly 40% of global GDP (on a purchasing-power-parity basis), marking a milestone that’s more than a headline — it’s the latest evidence of a long-running shift in global economic balance. The G7, by contrast, now represents about 28–29% of world GDP and its share has been slipping for years. What started as a gradual drift has become an economic and payments reality that’s reshaping oil, grain and capital flows — and creating new openings for digital currencies and stablecoins.
Key numbers and trends
- BRICS share of global GDP (PPP): ~40% (IMF). This reflects two decades of compounding growth, not a temporary spike.
- G7 share: ~28–29% and declining.
- Growth in 2026: BRICS average ~3.7% vs G7 average ~1.1%; India projected ~6.2%, China ~4.8%, Germany ~0.9%.
- Population and resource control: BRICS account for ~48.5% of the world population, hold ~72% of global rare earth reserves, ~43% of global oil production and ~42% of the world’s wheat.
- BRICS trade outside the dollar: surpassed $1 trillion by end-2025.
- China’s CIPS network reportedly settled the equivalent of $245 trillion in yuan transactions in 2025; the mBridge CBDC platform processed about $55 billion in 2025, with 95% of that in digital yuan.
- Dollar reserve share has fallen from 71% (2008) to 56.3%; central banks have bought net gold for 15 consecutive years.
- Saudi Arabia did not renew its petrodollar arrangement in June 2024.
- New Development Bank (BRICS’ MDB) announced $1.9 billion in Global South infrastructure funding for 2026–2027.
From a macro trend to operational change
Many observers treated “de-dollarization” as a long-range threat. It’s now showing up in everyday trade and shipping. Iran’s actions in the Strait of Hormuz are a clear example: the waterway handles roughly 20% of global oil, and reports indicate Tehran is levying a roughly $2 million per-voyage toll on some tankers — insisting on payment in Chinese yuan or stablecoins rather than dollars. According to media accounts, BRICS-aligned tankers were allowed passage while ships tied to the U.S., Israel or Western allies faced restrictions. Iranian officials have signaled intent to legislate yuan settlement for strait tolls.
India is also a live example of non-dollar settlement at scale. Indian refiners now pay for some Russian crude in yuan and UAE dirhams; non-dollar settlement volumes reached around 60 million barrels in March 2026 alone. These are not symbolic pilot projects — they are working payment flows.
Payments rails and digital currencies stepping in
The rise of alternative settlement networks and digital currencies is central to this shift. China’s cross-border yuan payment system (CIPS) and the mBridge CBDC bridge have handled growing volumes of yuan-denominated transactions and CBDC transfers, respectively. Meanwhile, stablecoins are being mentioned as acceptable settlement in geopolitical flashpoints. Together, these rails lower the friction of trading in currencies other than the U.S. dollar.
Why it matters for crypto and markets
- Stablecoins and CBDCs are already being used or considered as settlement instruments in high-stakes global trade, which validates their role beyond retail and DeFi.
- As reserve managers diversify (gold buying; lower dollar share), alternative assets and tokenized commodities could see increased institutional interest.
- Payment networks built around the yuan, dirham, CBDCs, and stablecoins could reduce the dollar’s centrality in commodity invoicing and cross-border finance — a structural change that impacts FX markets, tokenized asset design, and cross-border stablecoin use cases.
Geopolitical and financial ripple effects
The economic divergence between BRICS and the G7 is mirrored in diplomacy. South Africa’s deeper BRICS commitment followed a diplomatic rift with the G7; BRICS’ New Development Bank is deploying capital to Global South projects; and major commodity routes now see new rules and fees that are settled outside the dollar. As one commentator put it, “This growing sense that the dollar is being weaponized is one reason why dollar dominance is coming under increasing question as more countries might want to escape the risk.” Another perspective sees this as a decade-long move toward a multipolar currency landscape — with the dollar, euro and renminbi each dominant in different regions.
Bottom line
IMF PPP data confirming BRICS at roughly 40% of global GDP crystallizes trends that have been building for years: persistent growth in emerging markets, intentional moves to bypass the dollar, and operational payment systems (CBDCs, CIPS, stablecoins) that make non-dollar settlement real. For crypto markets and digital-payments firms, these developments create new opportunities — and new geopolitical and regulatory risks — as global trade and commodity flows begin to be priced and paid in a broader mix of currencies and digital instruments.
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