The Analytical Center issued a new bulletin on the current trends in the global economy, which presents the classification of the regions of the BRICS countries. Middle-income countries, to which these states belong, as a rule, are characterized by high regional and socio-economic inequalities. This issue of the bulletin analyzes the main parameters of the regional economies of the countries and identifies four groups of regions based on the development level for Brazil, India, China and South Africa.
The synthetic classification of territories by the economic development level, which is used in the work of the Analytical Center, allows determining the vector of regional development taking into account the specifics of groups of regions. The regions are grouped into 4 categories for each country: capitals and financial and economic centers, developed regions (usually with a noticeable concentration of manufacturing industries), medium-developed regions (usually with a noticeable concentration of the extractive industry) and less developed ones.
Experts note that the results are quite predictable. Capitals and financial and economic centers of all countries are distinguished by higher indicators of per capita income, with a primary reliance on the sphere of services and financial and banking activities. Developed regions rely primarily on the industry, especially processing. The middle-developed and less developed regions are noticeably inferior to the first two in terms of per capita income and are focused on extractive industry and agriculture.
The grouping of the BRICS countries unites economies with significant differences in the development level and economic growth models. The GDP (PPP) of China, which is comparable in population to India, is almost 2.5 times higher than that of India. The spread in GDP (PPP) per capita in 2017 prices within the BRICS is 3.9 times. The per capita indicators for China, Brazil and South Africa are similar, Russia is almost two times ahead of these countries (27.8 thousand Intl. dollars per a person), and India falls twice behind them (7.2 thousand Intl. dollars per a person). At the same time, the maximum social inequality is observed in South Africa, which is in the middle of the classification.
The authors of the bulletin offer readers an overview of the key economic statistics of the world's leading countries.
For details, see the bulletin "The BRICS Countries: Classification of Regions"
The other bulletins on current global economic trends can be found in Publications.
Photo: from open sources