Humanities › Geography BRIC/BRICS Defined Share Flipboard Email Print Cesar Okada / Getty Images Geography Basics Physical Geography Political Geography Population Country Information Key Figures & Milestones Maps Urban Geography By Matt Rosenberg Geography Expert M.A., Geography, California State University - Northridge B.A., Geography, University of California - Davis Matt Rosenberg is an award-winning geographer and the author of "The Handy Geography Answer Book" and "The Geography Bee Complete Preparation Handbook." our editorial process Matt Rosenberg Updated July 23, 2018 BRIC is an acronym that refers to the economies of Brazil, Russia, India, and China, which are seen as major developing economies in the world. According to Forbes, "The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers." In March 2012, South Africa appeared to join BRIC, which thus became BRICS. At that time, Brazil, Russia, India, China and South Africa met in India to discuss the formation of a development bank to pool resources. At that point, the BRIC countries were responsible for about 18% of the world's Gross Domestic Product and were home to 40% of the earth's population. It would appear that Mexico (part of BRIMC) and South Korea (part of BRICK) was not included in the discussion. Pronunciation: Brick Also Known As: BRIMC - Brazil, Russia, India, Mexico, and China. The BRICS countries include more than 40% of the world's population and occupy over a quarter of the world's land area. Brazil, Russia, India, China, and South Africa together are a powerful economic force.