fb

ACCA SUMMER SALE 20% OFF

Are the BRIC nations building a wall?

Are the BRIC nations building a wall?

10 years ago today the term “BRIC nations” was introduced by Jim O’Neill of Goldman Sachs

It represents an acronym for the 4 largest developing countries that have the potential to become some of the world’s most influential economies and whilst the people of Burundi, Rwanda, Iceland and Costa Rica may well hope that one day their economies will become powerhouses it’s the nations of Brazil, Russia, India and China that are leading the way.

The BRIC nations represent over 40% of the world’s population and it’s estimated that China will have more middle income families than the US by 2013 and India will have more by 2020.

If you think about it that’s a lot of middle income families that will be wanting to buy a lot of middle income products.

There has been an interesting trend though and that is that many companies saw the BRIC nations as the “factories” of the world where products would be produced. Some also saw a huge market opportunity where European and American firms could target sales as these nations became wealthier. Manufacturers of middle income products such as electronics equipment and cars were no doubt licking their lips in anticipation.

There has however been a movement towards intra-BRIC trade. For example, India and China are major importers of energy whilst Brazil and Russia are big exporters of resources.

As a group the BRIC nations are becoming more economically mature but is there a new challenger to the BRIC nations?

Well up step CIVETS, a group of countries that represent 8% of the world’s population and whilst the acronym isn’t as catchy as BRIC, the CIVETS group have combined economies that are growing faster than the BRIC nations and have suddenly caught the attention of a lot of investors.

For those of you that are good at geography see if you can guess what CIVETS stands for…

It’s Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa.

Share this entry

Recent articles

View All Articles
It’s all hands on deck moving from Big 4 to 4 people…
Jun 17, 2025
Title
It’s all hands on deck moving from Big 4 to 4 people…
Excerpt

When multinational companies switch auditors, it’s usually a move that signals routine rotation, cost management, or strategic realignment. […]

From whisky to wickets…
Jun 16, 2025
Title
From whisky to wickets…
Excerpt

Diageo, the global drinks giant behind brands like Guinness, Smirnoff and Johnnie Walker, is reportedly considering a sale […]

“Just Build It” – the Nike LEGO collaboration
Jun 12, 2025
Title
“Just Build It” – the Nike LEGO collaboration
Excerpt

Nike and LEGO are teaming up to launch co-branded products and experiences aimed at inspiring kids through active […]

Laziness and intelligence.
Jun 12, 2025
Title
Laziness and intelligence.
Excerpt

Whilst a lot of you won’t admit to being lazy (and I’m sure most of you aren’t in […]

The road to electric cars is full of potholes…
May 28, 2025
Title
The road to electric cars is full of potholes…
Excerpt

The electric vehicle (EV) market has seen tremendous growth in recent years, with major car manufacturers and startups […]

Is the stage set for airline pricing at the theatre?
May 26, 2025
Title
Is the stage set for airline pricing at the theatre?
Excerpt

Imagine paying £300 for a theatre ticket, only to find there’s more to pay if you want to […]

WeightWatchers files for bankruptcy as drugs take over…
May 12, 2025
Title
WeightWatchers files for bankruptcy as drugs take over…
Excerpt

Weight-loss drugs like Ozempic and Wegovy have revolutionised the weight management market, leaving companies which were once dominant […]

A whole new world: Disney’s Middle East move
May 08, 2025
Title
A whole new world: Disney’s Middle East move
Excerpt

The Walt Disney Company has announced its first-ever theme park in the Middle East, set to be built […]