Economy - overview:
Brazil is the eighth-largest economy in the world, but is recovering from a recession in 2015 and 2016 that ranks as the worst in the country’s history. In 2017, Brazil`s GDP grew 1%, inflation fell to historic lows of 2.9%, and the Central Bank lowered benchmark interest rates from 13.75% in 2016 to 7%.
The economy has been negatively affected by multiple corruption scandals involving private companies and government officials, including the impeachment and conviction of Former President Dilma ROUSSEFF in August 2016. Sanctions against the firms involved — some of the largest in Brazil — have limited their business opportunities, producing a ripple effect on associated businesses and contractors but creating opportunities for foreign companies to step into what had been a closed market.
The succeeding TEMER administration has implemented a series of fiscal and structural reforms to restore credibility to government finances. Congress approved legislation in December 2016 to cap public spending. Government spending growth had pushed public debt to 73.7% of GDP at the end of 2017, up from over 50% in 2012. The government also boosted infrastructure projects, such as oil and natural gas auctions, in part to raise revenues. Other economic reforms, proposed in 2016, aim to reduce barriers to foreign investment, and to improve labor conditions. Policies to strengthen Brazil’s workforce and industrial sector, such as local content requirements, have boosted employment, but at the expense of investment.
Brazil is a member of the Common Market of the South (Mercosur), a trade bloc that includes Argentina, Paraguay and Uruguay - Venezuela’s membership in the organization was suspended In August 2017. After the Asian and Russian financial crises, Mercosur adopted a protectionist stance to guard against exposure to volatile foreign markets and it currently is negotiating Free Trade Agreements with the European Union and Canada.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - partners: Exports - commodities: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$3.248 trillion
(2017 est.)
$3.216 trillion
(2016 est.)
$3.332 trillion
(2015 est.)
note: data are in 2017 dollars
country comparison to the world:
8
[see also: GDP country ranks ]
$2.055 trillion
(2017 est.)
[see also: GDP (official exchange rate) country ranks ]
1%
(2017 est.)
-3.5%
(2016 est.)
-3.5%
(2015 est.)
country comparison to the world:
182
[see also: GDP - real growth rate country ranks ]
$15,600
(2017 est.)
$15,600
(2016 est.)
$16,300
(2015 est.)
note: data are in 2017 dollars
country comparison to the world:
108
[see also: GDP - per capita country ranks ]
15% of GDP
(2017 est.)
14.1% of GDP
(2016 est.)
14.1% of GDP
(2015 est.)
country comparison to the world:
136
[see also: Gross national saving country ranks ]
household consumption: 63.4%
(2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20%
(2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 15.6%
(2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
(2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 12.6%
(2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -11.6%
(2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 6.6%
(2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 20.7%
(2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 72.7%
(2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus; beef
textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
0%
(2017 est.)
country comparison to the world:
169
[see also: Industrial production growth rate country ranks ]
104.2 million
(2017)
country comparison to the world:
5
[see also: Labor force country ranks ]
agriculture: 9.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 32.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 58.5%
(2017 est.)
[see also: Labor force - by occupation - services country ranks ]
12.8%
(2017 est.)
11.3%
(2016 est.)
country comparison to the world:
165
[see also: Unemployment rate country ranks ]
4.2%
(2016 est.)
note: approximately 4% of the population are below the "extreme" poverty line
[see also: Population below poverty line country ranks ]
lowest 10%: 0.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 43.4%
(2016 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
49
(2014)
54
(2004)
country comparison to the world:
19
[see also: Distribution of family income - Gini index country ranks ]
revenues: 733.7 billion
(2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 756.3 billion
(2017 est.)
[see also: Budget - expenditures country ranks ]
35.7% (of GDP)
(2017 est.)
country comparison to the world:
57
[see also: Taxes and other revenues country ranks ]
-1.1% (of GDP)
(2017 est.)
country comparison to the world:
82
[see also: Budget surplus (+) or deficit (-) country ranks ]
84% of GDP
(2017 est.)
78.4% of GDP
(2016 est.)
country comparison to the world:
32
[see also: Public debt country ranks ]
calendar year
3.4%
(2017 est.)
8.7%
(2016 est.)
country comparison to the world:
139
[see also: Inflation rate (consumer prices) country ranks ]
7%
(31 December 2017 est.)
13.75%
(31 December 2016)
country comparison to the world:
48
[see also: Central bank discount rate country ranks ]
46.92%
(31 December 2017 est.)
52.1%
(31 December 2016 est.)
country comparison to the world:
2
[see also: Commercial bank prime lending rate country ranks ]
$110.3 billion
(31 December 2017 est.)
$106.7 billion
(31 December 2016 est.)
country comparison to the world:
35
[see also: Stock of narrow money country ranks ]
$110.3 billion
(31 December 2017 est.)
$106.7 billion
(31 December 2016 est.)
country comparison to the world:
35
[see also: Stock of broad money country ranks ]
$2.206 trillion
(31 December 2017 est.)
$2.138 trillion
(31 December 2016 est.)
country comparison to the world:
12
[see also: Stock of domestic credit country ranks ]
$642.5 billion
(31 December 2017 est.)
$561.1 billion
(31 December 2014 est.)
$420 billion
(31 December 2013 est.)
country comparison to the world:
18
[see also: Market value of publicly traded shares country ranks ]
-$9.762 billion
(2017 est.)
-$23.55 billion
(2016 est.)
country comparison to the world:
190
[see also: Current account balance country ranks ]
$217.2 billion
(2017 est.)
$184.5 billion
(2016 est.)
country comparison to the world:
26
[see also: Exports country ranks ]
China 21.8%, US 12.5%, Argentina 8.1%, Netherlands 4.3%
(2017)
transport equipment, iron ore, soybeans, footwear, coffee, automobiles
$153.2 billion
(2017 est.)
$139.4 billion
(2016 est.)
country comparison to the world:
29
[see also: Imports country ranks ]
machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
China 18.1%, US 16.7%, Argentina 6.3%, Germany 6.1%
(2017)
$374 billion
(31 December 2017 est.)
$367.5 billion
(31 December 2016 est.)
country comparison to the world:
10
[see also: Reserves of foreign exchange and gold country ranks ]
$547.4 billion
(31 December 2017 est.)
$548.6 billion
(31 December 2016 est.)
country comparison to the world:
21
[see also: Debt - external country ranks ]
$778.3 billion
(31 December 2017 est.)
$703.3 billion
(31 December 2016 est.)
country comparison to the world:
14
[see also: Stock of direct foreign investment - at home country ranks ]
$358.9 billion
(31 December 2017 est.)
$341.5 billion
(31 December 2016 est.)
country comparison to the world:
19
[see also: Stock of direct foreign investment - abroad country ranks ]
reals (BRL) per US dollar -
3.19
(2017 est.)
3.48
(2016 est.)
3.4901
(2015 est.)
3.3315
(2014 est.)
2.3535
(2013 est.)