brasil

Brazil’s economy, with a nominal GDP of $2.08 trillion in 2023, grew at a rate of 2.2%. The country has a GDP per capita of $9,880, and its currency is the Brazilian Real (BRL). Unemployment stood at 8.3%, while inflation was at 4.7%. Brazil’s population is approximately 214 million.

Key sectors of the Brazilian economy include agriculture, industry, and services. Brazil is a global agricultural powerhouse, being one of the top producers of soybeans, sugarcane, coffee, and oranges. Agriculture contributes around 8% to the GDP and employs 18% of the workforce. Industry, particularly mining and manufacturing, also plays a major role, with Brazil being the second-largest producer of iron ore. The services sector, which includes banking, finance, and tourism, accounts for 63% of the economy and is seeing rapid growth in tech startups.

Brazil's exports totaled $305 billion in 2023, with soybeans, iron ore, and crude petroleum as major exports, while imports stood at $256 billion. China, the USA, and Argentina are Brazil’s top export markets, while China, the USA, and Germany are key import partners.

Brazil also has abundant natural resources, including iron ore, bauxite, and offshore oil. It is the second-largest producer of hydropower.

Despite these strengths, Brazil faces significant challenges such as high income inequality, political instability, deforestation, and a public debt level of 75% of GDP. However, there are opportunities in renewable energy, expanding trade within BRICS, and a growing digital economy. Looking ahead, Brazil aims to leverage its natural resources and technological advances, offering a promising outlook for sustainable growth.