Flag of Brazil

Brazil Economy Profile 2013

Home > Factbook > Countries > Brazil

Economy - overviewCharacterized 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 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. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth.
GDP (purchasing power parity)$2.394 trillion (2012 est.)
$2.374 trillion (2011 est.)
$2.31 trillion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate)$2.396 trillion (2012 est.)
GDP - real growth rate0.9% (2012 est.)
2.7% (2011 est.)
7.5% (2010 est.)
GDP - per capita (PPP)$12,100 (2012 est.)
$12,100 (2011 est.)
$11,900 (2010 est.)
note: data are in 2012 US dollars
Gross national saving15.2% of GDP (2012 est.)
17.6% of GDP (2011 est.)
18% of GDP (2010 est.)
GDP - composition, by end usehousehold consumption: 62.3%
government consumption: 21.5%
investment in fixed capital: 18.1%
investment in inventories: -0.5%
exports of goods and services: 12.6%
imports of goods and services: -14%
(2012 est.)
GDP - composition by sectoragriculture: 5.2%
industry: 26.3%
services: 68.5%
(2012 est.)
Population below poverty line21.4%
note: official Brazilian data show 4.2% of the population being below the "extreme" poverty line in 2011 (2009 est.)
Labor force106.3 million (2012 est.)
Labor force - by occupationagriculture: 15.7%
industry: 13.3%
services: 71%
(2011 est.)
Unemployment rate5.5% (2012 est.)
6% (2011 est.)
Unemployment, youth ages 15-24total: 17.8%
male: 13.9%
female: 23.1% (2009)
Household income or consumption by percentage sharelowest 10%: 0.8%
highest 10%: 42.9% (2009 est.)
Distribution of family income - Gini index51.9 (2012)
55.3 (2001)
Investment (gross fixed)18.1% of GDP (2012 est.)
Budgetrevenues: $875.5 billion
expenditures: $822.1 billion (2012 est.)
Taxes and other revenues36.5% of GDP (2012 est.)
Budget surplus (+) or deficit (-)2.2% of GDP (2012 est.)
Public debt58.8% of GDP (2012 est.)
54.2% of GDP (2011 est.)
Inflation rate (consumer prices)5.4% (2012 est.)
6.6% (2011 est.)
Central bank discount rate7.25% (31 December 2012 est.)
11% (31 December 2011 est.)
Commercial bank prime lending rate36.63% (31 December 2012 est.)
43.88% (31 December 2011 est.)
Stock of narrow money$158.8 billion (31 December 2012 est.)
$152.1 billion (31 December 2011 est.)
Stock of broad money$1.878 trillion (30 November 2011 est.)
$1.826 trillion (31 December 2010 est.)
Stock of domestic credit$2.381 trillion (31 December 2012 est.)
$2.22 trillion (31 December 2011 est.)
Market value of publicly traded shares$1.229 trillion (31 December 2011)
$1.546 trillion (31 December 2010)
$1.167 trillion (31 December 2009)
Agriculture - productscoffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus; beef
Industriestextiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
Industrial production growth rate-0.8% (2012 est.)
Current Account Balance-$65.13 billion (2012 est.)
-$52.48 billion (2011 est.)
Exports$242.6 billion (2012 est.)
$256 billion (2011 est.)
Exports - commoditiestransport equipment, iron ore, soybeans, footwear, coffee, autos
Exports - partnersChina 17%, US 11.1%, Argentina 7.4%, Netherlands 6.2% (2012)
Imports$223.2 billion (2012 est.)
$226.2 billion (2011 est.)
Imports - commoditiesmachinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics
Imports - partnersChina 15.4%, US 14.7%, Argentina 7.4%, Germany 6.4%, South Korea 4.1% (2012)
Reserves of foreign exchange and gold$373.1 billion (31 December 2012 est.)
$352 billion (31 December 2011 est.)
Debt - external$428.3 billion (31 December 2012 est.)
$404.3 billion (31 December 2011 est.)
Stock of direct foreign investment - at home$609.4 billion (31 December 2012 est.)
$544.1 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad$182 billion (31 December 2012 est.)
$184.8 billion (31 December 2011 est.)
Exchange ratesreals (BRL) per US dollar -
1.9546 (2012 est.)
1.675 (2011 est.)
1.7592 (2010 est.)
2 (2009)
1.8644 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013