Construction of Generalized Indicators of the Impact on GDP Growth Using the Example of the Brics Countries

In the last decade, due to high rates of economic development, the role of BRICS countries in the global economy has significantly increased. An analysis of existing methods for assessing the economic condition of BRICS countries has shown the need to establish an optimal system of socio-economic indicators that affect the growth of the gross domestic product (GDP) of these countries, based on which their development can be evaluated. The aim of this study is to aggregate twelve socio-economic indicators for the BRICS countries into generalized factors. The use of factor analysis methods made it possible to construct three factors: production factor, trade factor, and natural resources factor. Based on the obtained results, the BRICS countries were ranked according to each factor.