Economy of Brazil

Economy - overview
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.
GDP (purchasing power parity)
$2.324 trillion (2011 est.)
$2.103 trillion (2009 est.)
data are in 2011 US dollars
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GDP (official exchange rate)
$2.493 trillion (2011 est.)
GDP - real growth rate
2.7% (2011 est.)
-0.3% (2009 est.)
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GDP - per capita (PPP)
$11,900 (2011 est.)
$11,000 (2009 est.)
data are in 2011 US dollars
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GDP - composition by sector
agriculture:
5.5%
industry:
27.5%
services:
67% (2011 est.)
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Labor force
104.7 million (2011 est.)
rank:
6
Labor force - by occupation
agriculture:
20%
industry:
14%
services:
66% (2003 est.)
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Unemployment rate
6% (2011 est.)
6.7% (2010 est.)
Population below poverty line
21.4% (2009 est.)
Household income or consumption by percentage share
lowest 10%:
0.8%
highest 10%:
42.9% (2009 est.)
Distribution of family income - Gini index
51.9 (2012)
60.7 (1998)
Investment (gross fixed)
19.3% of GDP (2011 est.)
rank:
105
Budget
revenues:
$978.3 billion
expenditures:
$901 billion (2011 est.)
Taxes and other revenues
39.2% of GDP (2011 est.)
rank:
49
Budget surplus (+) or deficit (-)
3.1% of GDP (2011 est.)
rank:
22
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Public debt
54.2% of GDP (2011 est.)
53.4% of GDP (2010 est.)
Inflation rate (consumer prices)
6.6% (2011 est.)
5% (2010 est.)
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Central bank discount rate
11% (31 December 2011 est.)
10.75% (31 December 2010 est.)
Commercial bank prime lending rate
43.88% (31 December 2011 est.)
39.992% (31 December 2010 est.)
Stock of narrow money
$153 billion (31 December 2011 est.)
$169.2 billion (31 December 2010 est.)
Stock of broad money
$1.878 trillion (30 November 2011 est.)
$1.826 trillion (31 December 2010 est.)
Stock of domestic credit
$2.769 trillion (31 December 2011 est.)
$2.193 trillion (31 December 2010 est.)
Market value of publicly traded shares
$1.229 trillion (31 December 2011)
$1.167 trillion (31 December 2009)
Agriculture - products
coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus; beef
Industries
textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
Industrial production growth rate
0.3% (2011 est.)
rank:
145
Electricity - production
509.2 billion kWh (2010 est.)
rank:
9
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Electricity - consumption
455.7 billion kWh (2010 est.)
rank:
10
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Electricity - exports
2.98 billion kWh (2010 est.)
Electricity - imports
35.9 billion kWh; note - supplied by Paraguay and Venezuela (2010 est.)
Oil - production
2.301 million bbl/day (December 2011 est.)
rank:
13
Oil - consumption
2.029 million bbl/day (December 2011 est.)
rank:
12
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Oil - exports
801,200 bbl/day (December 2011 est.)
rank:
24
Oil - imports
255,800 bbl/day (December 2011 est.)
rank:
40
Oil - proved reserves
12.86 billion bbl (1 January 2011 est.)
rank:
15
Natural gas - production
24.07 billion cu m (2011 est.)
rank:
28
Natural gas - consumption
25.13 billion cu m (2011 est.)
rank:
30
Natural gas - exports
0 cu m (2011 est.)
rank:
67
Natural gas - imports
12.48 billion cu m (2011 est.)
rank:
20
Natural gas - proved reserves
366.4 billion cu m (1 January 2011 est.)
rank:
35
Current account balance
-$52.59 billion (2011 est.)
-$47.32 billion (2010 est.)
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Exports
$256 billion (2011 est.)
$201.9 billion (2010 est.)
Exports - commodities
transport equipment, iron ore, soybeans, footwear, coffee, autos
Exports - partners
China 17.3%, US 10.1%, Argentina 8.9%, Netherlands 5.3% (2011)
Imports
$219.6 billion (2011 est.)
$181.8 billion (2010 est.)
Imports - commodities
machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
Imports - partners
US 15.1%, China 14.5%, Argentina 7.5%, Germany 6.7%, South Korea 4.5% (2011)
Reserves of foreign exchange and gold
$352 billion (31 December 2011 est.)
$288.6 billion (31 December 2010 est.)
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Debt - external
$397.5 billion (31 December 2011 est.)
$347 billion (31 December 2010 est.)
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Stock of direct foreign investment - at home
$435.1 billion (31 December 2011 est.)
$368.4 billion (31 December 2010 est.)
Stock of direct foreign investment - abroad
$119.7 billion (31 December 2011 est.)
$129 billion (31 December 2010 est.)
Exchange rates
1.85 (2007)
Fiscal year
calendar year
Data source 1: All Above textual data, maps and flags were extracted from The World Factbook which was prepared by the Central Intelligence Agency and made available on the following link: The World Factbook. Lebanese Economy Forum is not sponsered or affiliated, in any way, by the US Central Intelligence Agency
Data source 2: Plots and Charts are constructed using the world bank public data catalog which can be viewed by visiting the following link: World Bank Data Catalog. Lebanese Economy Forum is not sponsored or affiliated, in any way, by the worldbank

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