Brazil
Being the largest country in South America, Brazil enjoys a wide variety of natural resources and also takes advantage of its wide openings to the Atlantic for international trade. It is South America’s leading economic power and second most powerful in both Americas after the US.
The coffee industry has been dominating the economy and the country until populists took over the power, and it is up to this day a main coffee exporter. In addition, Brazil has a very developed technological sector with projects ranging from submarines and aircrafts to space research. Brazil’s GDP surpasses a trillion dollars and it’s the 10th largest in the world. The largest component of GDP is service sector at 66.8%, followed by the industrial and agricultural sector. Brazil is highly dependent on imported oil which is becoming a problem and the government is trying to come up with policies to reduce imports and depend more on national resources. In the last decade, domestic production increased by 32.3% and agribusiness (agriculture and cattle-raising), which grew by 47% or 3.6% per year. Overall, the country has a increase of 6.8% per year and an inflation rate of about 4.46%
Brazil’s free market and its orientation towards export make it a global power and wide variety of specialization offer opportunities for investors in various fields. The labor force is also a main player in Brazil’s development with over 100 million workers and an unemployment rate of 7.6%
Macroeconomic Data
Nominal GDP: US$ 1.994 trillion (2008)
GDP Growth rate: 6.8% (3rd Quarter 2008)
Population: 196,342,592
Approximate GDP per capita: US$ 10,551 (2008)
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