Economy of Brazil

Economy of Brazil

The Itaim Bibi Financial District, São Paulo, Brazil
Currency	Brazilian real (BRL, R$)
Fiscal year	Calendar year
Trade organizations	Unasul, WTO, Mercosur, G-20 and others
Statistics
GDP	$2.0 trillion (Nominal) (2017 est.) $3.2 trillion (PPP) (2017 est.)
GDP rank	9th (nominal, 2016) / 7th (PPP, 2016)
GDP growth	-3.8% (2015), -3.4% (2016e), 0.5% (2017f), 1.8% (2018f)
GDP per capita	$10,000 (2015 est.) (nominal; 69th) $16,000 (2015 est.) (PPP; 74th)
GDP by sector	services: 76% industry: 18.5% agriculture: 5.5% (2016 est.)
Inflation (CPI)	4.55% (est. 2017)
Population below poverty line	15.4% (2016)
Gini coefficient	0.51 (November 2015)
Labor force	109 million (2017 est.)
Labor force by occupation	services: 71% agriculture: 15.7% industry: 13.3% (2017 est.)
Unemployment	11.2% (January 2017)
Ease-of-doing-business rank	123th (2017)
External
Exports	$0.8 trillion (2016 est.)
Export goods	transport equipment, iron ore, soybeans, footwear, coffee, automobiles
Main export partners	China 18.6%  United States 12.7%  Argentina 6.7%  Netherlands 5.3% (2015 est.)
Imports	$0.5 trillion (2016 est.)
Import goods	machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
Main import partners	China 17.9%  United States 15.6%  Germany 6.1%  Argentina 6.0% (2015 est.)
Gross external debt	$0.71 trillion (31 December 2014 est.)
Public finances
Public debt	67.3% of GDP (2017 est.)
Revenues	$0.63 trillion (2015 est.)
Expenses	$0.64 trillion (2015 est.)
Credit rating	Standard & Poor's: BB (Domestic) BB (Foreign) Outlook: Negative Fitch: BB+ Outlook: Negative Moody's: Ba2 Outlook: Negative
Foreign reserves	$0.36 trillion (December 2015)
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.

Agriculture production
Combine harvester on a plantation
Main products	coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus; beef
Labor force	15.7% of total labor force
GDP of sector	5.9% of total GDP

Industrial production
Embraer ERJ 145 jet manufactured by Embraer
Main industries	textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
Industrial growth rate	−5% (2015 est.)
Labor force	13.3% of total labor force
GDP of sector	22.2% of total GDP

$10,000 (2015 est.) (nominal; 69th)

Standard & Poor's:
BB (Domestic)
BB (Foreign)
Outlook: Negative

Fitch:
BB+
Outlook: Negative

Brazil has the world's ninth largest economy by nominal GDP, and the fifth largest by purchasing power parity. The Brazilian economy is characterized by an inward-oriented economy.

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 an ongoing recession in 2014.

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 2012 Forbes ranked Brazil as having the 5th largest number of billionaires in the world, a number much larger than what is found in other Latin American countries, and even ahead of United Kingdom and Japan. Brazil is a member of diverse economic organizations, such as Mercosur, Unasul, G8+5, G20, WTO, and the Cairns Group.