A Descriptive Review on BRICS Economy and Evolution of BRICS as Common Currency

Abstract

This study is an attempt for understanding BRICS as a common currency. It is a discussion in world market since 2009 but this study focus on BRICS expansion in 2025 and present context. The significance of BRICS expansion especially in world market is included in this descriptive study. This study also includes BRICS impact on international trade. The data which is included is from IMF for BRICS countries contribution of GDP, PPP, revenue, expenditure and fiscal balance to analysis and comparison of variables for future development. The statement are analyse in positive view of implementation of BRICS. The study is few countries economy measurement scale is describing by using secondary data. The key insights of the study is how significant it is for developing countries after implementation of BRICS currency in trade, import and export. The  paper addresses a timely important and policy relevant topic with the proposed BRIC currency and the bloc to expand the economic and political influences. This is of potential interest for scholars and policy makers in international economic and political arena which will discuss on the de-dollarization, global governance reforms, and south-south corporation.