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 record growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in September 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. Brazil has since then experienced an economic slowdown, driven primarily by a faltering industrial sector and Brazil's fast-rising currency. 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 rapid appreciation of its currency and led the government to raise taxes on some foreign investments. President Dilma ROUSSEFF has pledged to retain the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.
GDP (purchasing power parity):
$2.284 trillion (2011 est.)
country comparison to the world: 8
$2.222 trillion (2010 est.)
$2.067 trillion (2009 est.)
note: data are in 2011 US dollars
GDP (official exchange rate):
$2.518 trillion (2011 est.)
GDP - real growth rate:
2.8% (2011 est.)
country comparison to the world: 128
7.5% (2010 est.)
-0.6% (2009 est.)
GDP - per capita (PPP):
$11,600 (2011 est.)
country comparison to the world: 100
$11,300 (2010 est.)
$10,800 (2009 est.)
note: data are in 2011 US dollars
GDP - composition by sector:
agriculture: 5.8%
industry: 26.9%
services: 67.3% (2011 est.)
Labor force:
104.3 million (2011 est.)
country comparison to the world: 6
Labor force - by occupation:
agriculture: 20%
industry: 14%
services: 66% (2003 est.)
Unemployment rate:
6.1% (2011 est.)
country comparison to the world: 62
6.7% (2010 est.)
Population below poverty line:
26% (2008)
Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 42.5% (2009)
Distribution of family income - Gini index:
53.9 (2009)
country comparison to the world: 13
60.7 (1998)
Investment (gross fixed):
19% of GDP (2011 est.)
country comparison to the world: 134
Budget:
revenues: $1.005 trillion
expenditures: $930.9 billion (2011 est.)
Taxes and other revenues:
39.9% of GDP (2011 est.)
country comparison to the world: 42
Budget surplus (+) or deficit (-):
2.9% of GDP (2011 est.)
country comparison to the world: 19
Public debt:
54.4% of GDP (2011 est.)
country comparison to the world: 46
54.7% of GDP (2010 est.)
Inflation rate (consumer prices):
6.9% (2011 est.)
country comparison to the world: 150
5% (2010 est.)
Central bank discount rate:
11% (31 December 2011 est.)
country comparison to the world: 28
10.75% (31 December 2010 est.)
Commercial bank prime lending rate:
45.6% (31 December 2011 est.)
country comparison to the world: 4
39.992% (31 December 2010 est.)
Stock of narrow money:
$204.1 billion (31 December 2011 est.)
country comparison to the world: 19
$169.2 billion (31 December 2010 est.)
Stock of broad money:
$1.878 trillion (30 November 2011 est.)
country comparison to the world: 10
$1.826 trillion (31 December 2010 est.)
Stock of domestic credit:
$2.769 trillion (31 December 2011 est.)
country comparison to the world: 10
$2.193 trillion (31 December 2010 est.)
Market value of publicly traded shares:
$1.546 trillion (31 December 2010)
country comparison to the world: 13
$1.167 trillion (31 December 2009)
$589.4 billion (31 December 2008)
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:
4% (2011 est.)
country comparison to the world: 90
Electricity - production:
461.1 billion kWh (2009 est.)
country comparison to the world: 10
Electricity - consumption:
421 billion kWh (2009 est.)
country comparison to the world: 10
Electricity - exports:
1.08 billion kWh (2009 est.)
Electricity - imports:
39.67 billion kWh; note - supplied by Paraguay (2009 est.)
Oil - production:
2.746 million bbl/day (2010 est.)
country comparison to the world: 9
Oil - consumption:
2.654 million bbl/day (2010 est.)
country comparison to the world: 6
Oil - exports:
699,000 bbl/day (2009 est.)
country comparison to the world: 24
Oil - imports:
720,000 bbl/day (2009 est.)
country comparison to the world: 20
Natural gas - production:
12.41 billion cu m (2010 est.)
country comparison to the world: 37
Natural gas - consumption:
25.13 billion cu m (2010 est.)
country comparison to the world: 30
Natural gas - exports:
0 cu m (2010 est.)
country comparison to the world: 67
Natural gas - imports:
12.72 billion cu m (2010 est.)
country comparison to the world: 20
Natural gas - proved reserves:
366.4 billion cu m (1 January 2011 est.)
country comparison to the world: 35
Current account balance:
-$63.47 billion (2011 est.)
country comparison to the world: 193
-$47.36 billion (2010 est.)
Exports:
$250.8 billion (2011 est.)
country comparison to the world: 24
$201.9 billion (2010)
Exports - commodities:
transport equipment, iron ore, soybeans, footwear, coffee, autos
Exports - partners:
China 15.2%, US 9.6%, Argentina 9.2%, Netherlands 5.1%, Germany 4% (2010)
Imports:
$219.6 billion (2011 est.)
country comparison to the world: 22
$181.7 billion (2010 est.)
Imports - commodities:
machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
Imports - partners:
US 15%, China 14.1%, Argentina 7.9%, Germany 6.9%, South Korea 4.6% (2010)
Reserves of foreign exchange and gold:
$357.9 billion (31 December 2011 est.)
country comparison to the world: 6
$288.6 billion (31 December 2010 est.)
Debt - external:
$410 billion (31 December 2011 est.)
country comparison to the world: 26
$346.5 billion (31 December 2010 est.)
Stock of direct foreign investment - at home:
$426.4 billion (31 December 2011 est.)
country comparison to the world: 13
$368.4 billion (31 December 2010 est.)
Stock of direct foreign investment - abroad:
$113.9 billion (31 December 2011 est.)
country comparison to the world: 26
$128.9 billion (31 December 2010 est.)
Exchange rates:
reals (BRL) per US dollar -
1.602 (2011 est.)
1.76 (2010 est.)
2 (2009)
1.8644 (2008)
1.85 (2007)