With Sao Paulo as its economic capital, Brazil is the ninth largest economy in the world by nominal GDP and eight largest by PPP (Purchasing Power Parity). It is a mixed economy and its growth depends on import substitution. The currency BRL (Brazilian real) is valued at around 0.258 USD, and the country is a part of WTO, G-20, Unasul, Mercosur, and other trade organizations. The nation houses natural resources like iron, gold, timber, uranium, etc. that are estimated to be worth 21.8 trillion USD.
Basic Economic Facts
With a nominal GDP of USD 2.056 trillion, Brazil ranks 9th in the world on the basis of nominal GDP. In the American continent alone, it is the second largest economy, right behind the United States. The growth rate registered in 2018 was around 2.4%, and the per capita was found to be around $9821. The majority of the nation’s labor force, estimated to be 120 million, is employed in services, while the rest are in industry and agriculture.
Basic Economic Facts
With a nominal GDP of USD 2.056 trillion, Brazil ranks 9th in the world on the basis of nominal GDP. In the American continent alone, it is the second largest economy, right behind the United States. The growth rate registered in 2018 was around 2.4%, and the per capita was found to be around $9821. The majority of the nation’s labor force, estimated to be 120 million, is employed in services, while the rest are in industry and agriculture.
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