Economy of Brazil

The Economy of Brazil is the world's ninth largest economy by nominal GDP and eighth largest by purchasing power parity. The Brazilian economy is characterized by a mixed economy that relies on import substitution to achieve economic growth. Brazil has an estimated US$21.8 trillion worth of natural resources which includes vast amounts of gold, uranium, iron, and timber. As of late 2010, Brazil's economy is the largest of Latin America and the second largest in the Americas. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world, with an average annual GDP growth rate of over 5%, with its economy in 2012 surpassing that of the United Kingdom, temporarily making Brazil the world's sixth largest economy. However, Brazil's economy growth decelerated in 2013 and the country entered a recession in 2014. In 2017, however, the economy started to recover, with a 1% GDP growth in the first quarter. In the second quarter, the economy grew 0.3% compared to the same period of the previous year, officially exiting the recession. Brazil's economy has a gross domestic product (GDP) of R$6.559 trillion, or US$2.080 trillion nominal, according to the estimates by the International Monetary Fund (IMF), being ranked as the 8th largest economy in the world. It is the second largest in the American continent, only behind the United States' economy. According to the report of the International Monetary Fund of 2017, Brazil is the 65th country in the world in the ranking of GDP per capita, with a value of US$10,019 per inhabitant. According to the World Economic Forum, Brazil was the top country in upward evolution of competitiveness in 2009, gaining eight positions among other countries, overcoming Russia for the first time, and partially closing the competitiveness gap with India and China among the BRIC economies. Important steps taken since the 1990s toward fiscal sustainability, as well as measures taken to liberalize and open the economy, have significantly boosted the country's competitiveness fundamentals, providing a better environment for private-sector development. In 2016 Forbes ranked Brazil as having the 12th largest number of billionaires in the world. Brazil is a member of diverse economic organizations, such as Mercosur, Unasul, G8+5, G20, WTO, Paris Club and the Cairns Group. In 2017, Brazil is the third most unequal country in Latin America after Honduras and Colombia. The economic crisis, the lack of public policies and corruption are leading to an increase in poverty in 2017. Many retired civil servants no longer receive their pensions on time and some become homeless because they cannot pay their rent. In 2017, the richest 5% of Brazilians hold as much wealth as the remaining 95%. Six billionaires alone are richer than the 100 million poorest Brazilians. According to data from the Brazilian Institute of Geography and Statistics, extreme poverty increased by 11 per cent in 2017, while inequalities also increased again (the Gini index rose from 0.555 to 0.567). The reduction in the number of Bolsa Família beneficiaries decided by the government is the main cause, according to the study.


This table shows the example usage of word lists for keywords extraction from the text above.

WordWord FrequencyNumber of ArticlesRelevance

This website uses cookies to ensure you get the best experience on our website. Learn more. Got it.