Overview: The economy is based on large developing agricultural and industrial sectors supported by good natural resources. During the period 1984-87 real GDP grew at an annual rate of 6.3%. In 1987, however, the economy started to stagnate, dropping growth to 2.9%. The agricultural sector employs about a third of the labor force and accounts for 12% of GDP and nearly 40% of exports. During the past decade industry has been the key contributor to economic growth and accounts for about 35% of GDP and 60% of exports. Stemming runaway inflation and servicing a huge external debt of $118 billion (the largest among less developed countries) are current problems facing the government.

GNP: $313.0 billion, per capita $2,130; real growth rate 2.9% (1987)

Inflation rate (consumer prices): 900% (1988 est.)

Unemployment rate: 6.0% (September 1988)

Budget: revenues $27.8 billion; expenditures $40.1 billion, including capital expenditures of $8.8 billion (1986)

Exports: $26.2 billion (f.o.b., 1987); @m5commodities--coffee, metallurgical products, chemical products, foodstuffs, iron ore, automobiles and parts; @m5partners--US 28%, EC 26%, Latin America 12%, Japan 7% (1986)

Imports: $16.6 billion (c.i.f., 1987); @m5commodities--crude oil, capital goods, chemical products, foodstuffs, coal; @m5partners--US 23%, EC 23%, Latin America 13%, Middle East and Africa 17%, Japan 6% (1986)

External debt: $117.5 billion (December 1988)

Industrial production: growth rate 0.9% (1987)

Electricity: 52,160,000 kW capacity; 201,624 million kWh produced, 1,340 kWh per capita (1987)

Industries: textiles and other consumer goods, shoes, chemicals, cement, lumber, iron ore, steel, motor vehicles and auto parts, metalworking, capital goods, tin

Agriculture: coffee, rice, corn, sugarcane, cocoa, soybeans, cotton, manioc, oranges; nearly self-sufficient in food except for wheat; illegal producer of cannabis, mostly for domestic consumption

Aid: NA

Currency: cruzado (plural--cruzados); 1 cruzado (Cr$) = 100 centavos

Exchange rates: cruzados (Cr$) per US$1--650.00 (December 1988), 39.229 (1987), 13.656 (1986), 6.200 (1985)

Fiscal year: calendar year

NOTE: The information regarding Brazil on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Brazil Economy 1989 information contained here. All suggestions for corrections of any errors about Brazil Economy 1989 should be addressed to the CIA.