In 2001, the Shanghai Cooperation Organization was officially established, and it has been 21 years since then.
Recently, the Iranian parliament passed the bill on joining the SCO, which is about to formally join and become the ninth member state of the SCO.
At the same time, more than 10 countries such as Belarus, Afghanistan, and Egypt lined up to join.
More than 20 years old, what is the economic strength of the SCO?
In 2001, when the SCO was first established, its economic strength was inconspicuous in the global senses. At that time, China, the most economically powerful of the six member countries, had a total economic volume of only $1.34 trillion, ranking sixth in the world after France.
Russia's economy totaled only $306 billion, and Kazakhstan, the highest of the remaining four countries, had a total economy of only $22.1 billion.
The combined economy of the six member countries is less than $1.7 trillion.
In June 2017, India and Pakistan officially became SCO members.
In that year, the total economic output of the eight member countries was close to China's economic output for the first time in history, exceeding the $12 trillion mark, reaching $12.3 trillion; India's GDP was $2.65 trillion, Russia's was $1.57 trillion, Pakistan's was $339.2 billion, and Kazakhstan's economic output reached $166.8 billion.
The combined economies of eight member countries exceed $17 trillion.
Compared with the beginning of its establishment, new forces have joined, the economy has developed rapidly, and the total GDP has been more than 10 times that of the beginning of its establishment.
By last year, the 20th anniversary of the SCO's founding, the economic strength of the member states varied, but overall leapt to a new level.
In 2021, the economic strength of the eight SCO member states has exceeded $23 trillion, which is basically the same as the total economic volume of the United States. Among them, China and India contribute the most economically!
Last year, China's economy exceeded $17.7 trillion and India's $3.17 trillion, and the economic growth rate of the two countries was among the highest among the world's major economies.
Compared with 2017, the total growth of the SCO economy exceeded $6 trillion, with China alone contributing more than $5 trillion. India contributed about $600 billion.
Outside of China and India, Russia is $1.77 trillion, Pakistan $346.3 billion, and Kazakhstan $190.8 billion.
It can be seen that among the 8 member countries, except for China, India and Russia, most of the remaining countries have negative GDP growth.
In 2022, the global economy experienced new turbulence and uncertainties. The overall economic strength of SCO member states will continue to grow due to China and India.
But with the exception of China and India, the rest of the countries need to work harder.
In the future, the global economic pattern will further evolve and economic competition will become more intense.
The future of the SCO is bright, but it needs to work hard!