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. Consumer and investor confidence revived and GDP growth returned to positive in 2010, boosted by an export recovery. Brazil's strong growth and high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past year 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.
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
10.5% (2010 est.)country comparison to the world: 22
Labor Force
102.2 million (2010 est.)country comparison to the world: 6
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.)
Unemployment Rate
6.7% (2010 est.)country comparison to the world: 62 8.1% (2009 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)
Budget
Revenues: $822.6 billion
Expenditures: $762.1 billion (2010 est.)
Public Debt
54.7% of GDP (2010 est.)country comparison to the world: 43 62% of GDP (2009 est.)
Central Bank Discount Rate
10.75% (31 December 2010 est.)country comparison to the world: 38 8.75% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$169.2 billion (31 December 2010 est.)country comparison to the world: 20 $143.7 billion (31 December 2009 est.)
Stock of Broad Money
$1.826 trillion (31 December 2010 est.)country comparison to the world: 10 $1.522 trillion (31 December 2009 est.)
Stock of Domestic Credit
$2.193 trillion (31 December 2010 est.)country comparison to the world: 11 $1.769 trillion (31 December 2009 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)
Reserves of Foreign Exchange and Gold
$288.6 billion (31 December 2010 est.)country comparison to the world: 7 $238.5 billion (31 December 2009 est.)
Debt External
$396.2 billion (30 June 2011 est.)country comparison to the world: 26 $346.5 billion (31 December 2010 est.)
Stock of Direct Foreign Investment at Home
$368.4 billion (31 December 2010 est.)country comparison to the world: 14 $319.9 billion (31 December 2009 est.)
Stock of Direct Foreign Investment Abroad
$128.9 billion (31 December 2010 est.)country comparison to the world: 24 $117.4 billion (31 December 2009 est.)
Exchange Rates
reals (BRL) per US dollar -1.77 (2010)2 (2009)1.8644 (2008)1.85 (2007)2.1761 (2006)
