| People | Brazil |
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Economy - overview:
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Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries and is expanding its presence in world markets. Having weathered 2001-03 financial turmoil, capital inflows are regaining strength and the currency has resumed appreciating. The appreciation has slowed export volume growth, but since 2004, Brazil's growth has yielded increases in employment and real wages. The resilience in the economy stems from commodity-driven current account surpluses, and sound macroeconomic policies that have bolstered international reserves to historically high levels, reduced public debt, and allowed a significant decline in real interest rates. A floating exchange rate, an inflation-targeting regime, and a tight fiscal policy are the three pillars of the economic program. From 2003 to 2007, Brazil ran record trade surpluses and recorded its first current account surpluses since 1992. Productivity gains coupled with high commodity prices contributed to the surge in exports. Brazil improved its debt profile in 2006 by shifting its debt burden toward real denominated and domestically held instruments. LULA DA SILVA restated his commitment to fiscal responsibility by maintaining the country's primary surplus during the 2006 election. Following his second inauguration, LULA DA SILVA announced a package of further economic reforms to reduce taxes and increase investment in infrastructure. The government's goal of achieving strong growth while reducing the debt burden is likely to create inflationary pressures. |
GDP (purchasing power parity):
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$1.838 trillion (2007 est.) |
GDP (official exchange rate):
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$1.269 trillion (2007 est.) |
GDP - real growth rate:
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4.5% (2007 est.) |
GDP - per capita (PPP):
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$9,700 (2007 est.) |
GDP - composition by sector:
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agriculture: 5.1%
industry: 30.8%
services: 64% (2007 est.) |
Investment (gross fixed):
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17.9% of GDP (2007 est.) |
Population below poverty line:
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31% (2005) |
Household income or consumption by percentage share:
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lowest 10%: 0.9%
highest 10%: 44.8% (2004) |
Distribution of family income - Gini index:
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56.7 (2005) |
Inflation rate (consumer prices):
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4.1% (2007 est.) |
Labor force:
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99.47 million (2007 est.) |
Labor force participation rate:
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51.83 % of population |
Labor force - by occupation:
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agriculture: 20%
industry: 14%
services: 66% (2003 est.) |
Unemployment rate:
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9.8% (2007 est.) |
Budget:
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revenues: $244 billion
expenditures: $219.9 billion (FY07 est.) |
Budget revenues per capita:
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1,272 USD per capita |
Public debt:
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43.9% of GDP (2007 est.) |
Industries:
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textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment |
Industrial production growth rate:
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4.5% (2007 est.) |
Electricity - production:
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396.4 billion kWh (2005) |
Electricity - production per capita:
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2,066 kWh per capita |
Electricity - consumption:
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368.5 billion kWh (2005) |
Electricity - consumption - per capita:
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1,921 kWh per capita |
Electricity - exports:
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160 million kWh (2005) |
Electricity - imports:
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39.2 billion kWh; note - supplied by Paraguay (2005) |
Oil - production:
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1.59 million bbl/day (2006 est.) |
Oil - production per capita:
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8,286 bbl/day per capita |
Oil - consumption:
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2.1 million bbl/day (2006 est.) |
Oil - consumption - per capita:
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3.99 bbl/year per capita |
Oil - exports:
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278,400 bbl/day (2005) |
Oil - imports:
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674,500 bbl/day (2004) |
Oil - proved reserves:
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11.24 billion bbl (1 January 2006 est.) |
Natural gas - production:
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9.37 billion cu m (2005 est.) |
Natural gas - production per capita:
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49 cu m per capita |
Natural gas - consumption:
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17.85 billion cu m (2005 est.) |
Natural gas - consumption - per capita:
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94 cu m per capita |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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8.478 billion cu m (2005) |
Natural gas - proved reserves:
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312.7 billion cu m (1 January 2006 est.) |
Agriculture - products:
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coffee, soybeans, wheat, rice, corn, sugarcane, cocoa, citrus; beef |
Current account balance:
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$10.2 billion (2007 est.) |
Current account balance - per capita:
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54 USD per capita |
Exports:
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$159.2 billion f.o.b. (2007 est.) |
Exports per capita:
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830 USD per capita |
Exports - commodities:
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transport equipment, iron ore, soybeans, footwear, coffee, autos |
Exports - partners:
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US 17.8%, Argentina 8.5%, China 6.1%, Netherlands 4.2%, Germany 4.1% (2006) |
Imports:
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$115.6 billion f.o.b. (2007 est.) |
Imports per capita:
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603 USD per capita |
Imports - commodities:
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machinery, electrical and transport equipment, chemical products, oil, automotive parts, electronics |
Imports - partners:
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US 16.2%, Argentina 8.8%, China 8.7%, Germany 7.1%, Nigeria 4.3%, Japan 4.2% (2006) |
Reserves of foreign exchange and gold:
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$178 billion (24 December 2007) |
Reserves of foreign exchange and gold - per capita:
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928 USD per capita |
Debt - external:
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$230.3 billion (30 June 2007) |
Debt - external - per capita:
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1,201 USD per capita |
Stock of direct foreign investment - at home:
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$214.3 billion (2006 est.) |
Stock of direct foreign investment - abroad:
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$99.99 billion (2006 est.) |
Market value of publicly traded shares:
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$711.1 billion (2006) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$191.9 million (2005) |
Economic aid - recipient per capita:
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1 USD per capita |
Currency (code):
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real (BRL) |
Exchange rates:
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reals per US dollar - 1.85 (2007 est.), 2.1761 (2006), 2.4344 (2005), 2.9251 (2004), 3.0771 (2003) |
Fiscal year:
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calendar year |
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