An Overview of the Economy
Brazil has a free market and export-oriented economy and is
currently the ninth largest economy in the world and the largest in
Latin America. The city of São Paulo is also the financial centre
of South America.
The service sector is the largest component of GDP at 66%, followed
by the industrial sector at 20% (2003 .est). Agriculture represents
only 14% of GDP (2003 .est). The Brazilian labor force is estimated
at 99.47 million of which 20% is occupied in agriculture, 14% in
the industry sector and 66% in the service sector.
The country's scientific and technological development is argued to
be attractive to foreign direct investment, which has recently
averaged S$ 20 billion per year, compared to only US$ 2
billion/year over the last decade, thus showing a remarkable
growth.
| statistics |
|
| GDP (PPP) (IMF) (US$Trillions) |
1.836 |
| GDP (PPP) (CIA) (US$Trillions) |
1.836 |
| GDP Growth (IMF) (%) |
5.4% |
| GDP Growth (CIA) (%) |
5.4% |
| GDP Per Capita (PPP) (IMF) (US$) |
9,695 |
| GDP Per Capita (PPP) (CIA) (US$) |
9,700 |
| GDP by Sector (%) |
Agriculture: 5.5%
Services: 65.8%
Industry: 28.7% |
| Inflation (%) |
4.2% |
| Population Below the Poverty Line (%) |
31% |
| Labour Force (Millions) |
99.47 |
| Labour Force by Occupation (%) |
Agriculture: 20%
Services: 66%
Industry: 14% |
| Unemployment (%) |
9.3% |
| Main Industries |
Textiles, shoes, chemicals, cement, lumber,
iron ore, tin, steel, aircraft, motor vehicles
and parts, other machinery and equipment. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
1,077.2 |
1,138.8 |
1,174.8 |
1,218.9 |
1,284.9 |
| GDP Growth (%) |
1.1% |
5.7% |
3.2% |
3.8% |
5.4% |
| GDP Per Capita (US$) |
3,085 |
3,654 |
4,787 |
5,741 |
6,937 |
| GDP Per Capita (PPP) (US$) |
7,698 |
8,231 |
8,603 |
9,080 |
9,695 |
| Inflation (%) |
9.3% |
7.6% |
5.7% |
3.1% |
4.5% |
| Unemployment (%) |
6.4% |
12.3% |
11.5% |
9.8% |
9.6% |
| Mobile Phone Users |
4,400,000 |
46,373,300 |
46,373,300 |
86,210,000 |
99,919,000 |
| Internet Users |
13,980,000 |
14,300,000 |
14,300,000 |
25,900,000 |
42,600,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Strong external demand and a more active export policy have
contributed to booming export earnings since 2003, leading the
trade surplus to swell and transforming the current account from a
deficit of 4.6% of GDP in 2001 to a surplus of 1.2% of GDP in 2006.
Despite import value growth outpacing that of export earnings
recently, the trade surplus will remain robust, owing to a
favourable export/import ratio.
Major Exports 2007
Transport equipment, iron ore, soybeans, meats and oils,
chemical products, footwear, coffee, automobiles.
Major Imports 2007
Machinery and equipment, chemical products, oil and derivatives,
transport and equipment, automotive parts.
| export partners 2007 |
% of total |
| US |
17.8% |
| Argentina |
8.5% |
| China |
6.1% |
| Netherlands |
4.2% |
| Germany |
4.1% |
| import partners 2007 |
% of total |
| US |
16.2% |
| Argentina |
8.8% |
| China |
8.7% |
| Germany |
7.1% |
| Nigeria |
4.3% |
| Japan |
4.2% |
Source: CIA World Factbook
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