Visualizing Economic Trends: G7 vs. BRICS : Part1
<p>In today’s globalized world, economic powerhouses play a significant role in shaping the global economy. Two prominent groups that often come into focus are the G7 (Group of Seven) and BRICS. The G7 consists of seven of the world’s largest advanced economies, while BRICS includes five major emerging economies. In this analysis, we’ll explore and compare some economic trends and indicators between these two groups over the years.</p>
<h1><strong>Indicators</strong></h1>
<p>The indicators chosen for the analysis are:<br />
1. Population: A healthy population is essential for sustaining the economy. It helps us understand the size and growth of a country’s workforce and potential consumer base.</p>
<p>2. Nominal GDP: Represents a country’s total economic output, highlighting its economic size and performance.</p>
<p>3. Nominal GDP Per Capita: Shows economic well-being by dividing total GDP by the population, indicating wealth distribution.</p>
<p>4. GDP (PPP): Adjusts for cost-of-living differences, offering a more precise economic comparison.</p>
<p>5. GDP Per Capita (PPP): Reflects living standards while accounting for cost-of-living variations.</p>
<p>6. Total Exports: Essential for understanding a country’s role in global trade, competitiveness, and economic sustainability.</p>
<p>These are few of the several key indicators used in comparing economic conditions across the globe.</p>
<p><a href="https://medium.com/@deepakpg70/visualizing-economic-trends-g7-vs-brics-part1-60c1246db898">Read More</a></p>