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Brazil Economy 2017
http://www.theodora.com/wfbcurrent/brazil/brazil_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Brazil Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, and a rapidly expanding middle class, 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. Since 2008, Brazil became a net external creditor and all three of the major ratings agencies awarded investment grade status to its debt.After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 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. GDP growth has slowed since 2011, due to several factors, including overdependence on exports of raw commodities, low productivity, high operational costs, persistently high inflation, and low levels of investment. After reaching historic lows of 4.8% in 2014, the unemployment rate remains low, but is rising. Brazil's traditionally high level of income inequality has declined for the last 15 years.Brazil’s fiscal and current account balances have eroded during the past four years as the government attempted to boost economic growth through targeted tax cuts for industry and incentives to spur household consumption. After winning reelection in October 2014 by a historically narrow margin, President Dilma ROUSSEFF appointed a new economic team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity package intended to restore the primary account surplus (before interest expenditures are included) to 1.2% of GDP and preserve the country's investment-grade sovereign credit rating. LEVY encountered political headwinds and an economy facing more challenges than he anticipated. The target for the primary account surplus fell to a deficit of 2%, and two of the three main credit rating agencies downgraded Brazil to “junk” status.Brazil seeks to strengthen its workforce and its economy over the long run by imposing local content and technology transfer requirements on foreign businesses, by investing in education through social programs such as Bolsa Familia and the Brazil Science Mobility Program, and by investing in research in the areas of space, nanotechnology, healthcare, and energy.

GDP (purchasing power parity):
$3.135 trillion (2016 est.) $3.241 trillion (2015 est.) $3.371 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 8
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.77 trillion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-3.3% (2016 est.) -3.8% (2015 est.) 0.1% (2014 est.)
country comparison to the world: 214
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$15,200 (2016 est.) $15,900 (2015 est.) $16,600 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 108
[see also: GDP - per capita country ranks ]

Gross national saving:
17.2% of GDP (2016 est.) 15.9% of GDP (2015 est.) 16.7% of GDP (2014 est.)
country comparison to the world: 104
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 62.5%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 15.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 13.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -12.7% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 6.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 21.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 72% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
-3% (2016 est.)
country comparison to the world: 189
[see also: Industrial production growth rate country ranks ]

Labor force:
110.4 million (2016 est.)
country comparison to the world: 6
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 15.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 13.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 71% (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
12.6% (2016 est.) 9% (2015 est.)
country comparison to the world: 140
[see also: Unemployment rate country ranks ]

Population below poverty line:
21.4%
note: approximately 4% of the population are below the "extreme" poverty line (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 42.9% (2009 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
51.9 (2012) 55.3 (2001)
country comparison to the world: 16
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $632 billion
[see also: Budget revenues country ranks ]
expenditures: $677.2 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
35.7% of GDP (2016 est.)
country comparison to the world: 54
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.6% of GDP (2016 est.)
country comparison to the world: 89
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
75.4% of GDP (2016 est.) 66.5% of GDP (2015 est.)
country comparison to the world: 37
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
8.4% (2016 est.) 9% (2015 est.)
country comparison to the world: 199
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
10% (31 December 2013) 11% (31 December 2011)
country comparison to the world: 24
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
47.4% (31 December 2016 est.) 43.96% (31 December 2015 est.)
country comparison to the world: 2
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$107 billion (31 December 2016 est.) $85.64 billion (31 December 2015 est.)
country comparison to the world: 34
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$928.9 billion (31 December 2014 est.) $835.3 billion (31 December 2013 est.)
country comparison to the world: 18
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.076 trillion (31 December 2016 est.) $1.644 trillion (31 December 2015 est.)
country comparison to the world: 13
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$490.5 billion (31 December 2015 est.) $843.9 billion (31 December 2014 est.) $1.02 trillion (31 December 2013 est.)
country comparison to the world: 20
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$14.11 billion (2016 est.) -$58.88 billion (2015 est.)
country comparison to the world: 184
[see also: Current account balance country ranks ]

Exports:
$189.7 billion (2016 est.) $190.1 billion (2015 est.)
country comparison to the world: 24
[see also: Exports country ranks ]

Exports - commodities:
transport equipment, iron ore, soybeans, footwear, coffee, automobiles

Exports - partners:
China 18.6%, US 12.7%, Argentina 6.7%, Netherlands 5.3% (2015)

Imports:
$143.9 billion (2016 est.) $172.4 billion (2015 est.)
country comparison to the world: 28
[see also: Imports country ranks ]

Imports - commodities:
machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics

Imports - partners:
China 17.9%, US 15.6%, Germany 6.1%, Argentina 6% (2015)

Reserves of foreign exchange and gold:
$352.1 billion (31 December 2016 est.) $356.5 billion (31 December 2015 est.)
country comparison to the world: 10
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$544.1 billion (31 December 2016 est.) $542.3 billion (31 December 2015 est.)
country comparison to the world: 21
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$673 billion (31 December 2016 est.) $615 billion (31 December 2015 est.)
country comparison to the world: 15
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$295.3 billion (31 December 2016 est.) $288.5 billion (31 December 2015 est.)
country comparison to the world: 23
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
reals (BRL) per US dollar - 3.483 (2016 est.) 3.3315 (2015 est.) 3.3315 (2014 est.) 2.3535 (2013 est.) 1.95 (2012 est.)


NOTE: The information regarding Brazil on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Brazil Economy 2017 information contained here. All suggestions for corrections of any errors about Brazil Economy 2017 should be addressed to the CIA.




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