Indonesia will formally join BRICS as a full member, Brazil's government said on Monday, further expanding the group of major emerging economies that also includes Russia, India, China and South Africa.

Home to over 284 million people, the Asian nation boasts the world's fourth-largest population and ranks as the tenth-largest economy by purchasing power parity.

Holding the rotating presidency of BRICS, Brazil announced Monday that Indonesia has officially joined the international bloc. BRICS, a geopolitical alliance established in 2009, was originally composed of Brazil, Russia, India, China, and South Africa.