The expansion of M2 across BRICS economies has been remarkable over the past 15 years.
Since 2009, aggregate BRICS M2 has grown from roughly $10 trillion to nearly $60 trillion.
What stands out even more is the consistency of that expansion. BRICS M2 YoY growth turned negative only once during this entire period, and that happened in 2022.
That is a striking detail considering how aggressively liquidity has expanded across these economies over time.
A move from $10T to $60T is not just monetary growth. It reflects a major structural shift in the scale of liquidity across the BRICS bloc.
This is becoming an increasingly important part of the global macro picture.
Since 2009, aggregate BRICS M2 has grown from roughly $10 trillion to nearly $60 trillion.
What stands out even more is the consistency of that expansion. BRICS M2 YoY growth turned negative only once during this entire period, and that happened in 2022.
That is a striking detail considering how aggressively liquidity has expanded across these economies over time.
A move from $10T to $60T is not just monetary growth. It reflects a major structural shift in the scale of liquidity across the BRICS bloc.
This is becoming an increasingly important part of the global macro picture.
