By Year's End Brazil Should Become the World's Sixth Economy, Surpassing the UK

[Judi Lynn]

Source: Brazzil Magazine

By Year's End Brazil Should Become the World's Sixth Economy, Surpassing the UK
2011 - October 2011
Written by Newsroom
Monday, 31 October 2011 02:03

Reports from the International Monetary Fund and international private consultants show that at the end of the year Brazil's GDP will rank sixth in the world and for the first time ahead of Britain's GDP.

Although Brazil's GDP is only expected to grow 3.5% in 2011, less than originally expected by the government last January, it will total US$ 2.44 trillion, enough to surpass the US$ 2.41 trillion from the United Kingdom.

The report was published by daily Folha de S. Paulo based on IMF data and the EIU, Economist Intelligence Unit and BMI, Business Monitor International.

"The fact that the Brazilian economy is overtaking that of the developed countries reflects the effects of the access of large segments of the poor population into the middle class and the consumer market," said Robert Wood, a US analyst.

Read more: http://www.brazzilmag.com/component/content/article/103-october-2011/12742-by-years-end-brazil-should-become-the-worlds-sixth-economy-surpassing-the-uk.html

[tblue]

1. They're doing it right. They control their own oil.

How long before our aspiration is to be more like Brazil? Good for them! Really.

[Name removed]

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[Skittles]

3. they are also getting plenty of our jobs

:thumbsdown:

[pampango]

4. Good for Brazil. Their trade with the US is a small part (14%) of their economy.

They trade more with Europe and Asia than they do with us.

They do still have a big problem with inequality however. Brazil if one of the few big countries that has worse income inequality than the US. (Gini of 49 compared to our 45.) At least theirs is improving, while ours is continuously getting worse.


(Canada, Europe and Australia are all shades of green.) :)

"Brazil's main trade partners in 2008 were: Mercosul and Latin America (25.9 percent of trade), EU (23.4 percent), Asia (18.9 percent), the United States (14.0 percent), and others (17.8 percent)."

With still high levels of inequality, though it has diminished in the last years, the Brazilian economy has become one of the major economies of the world.

Their per capita GDP is about $11,500 - well ahead of China's $7,500 and way behind our $45,000 and the EU's $31,000. Europe, of course, has the advantage of having the best income distribution in the advanced world - a Gini of 26.

http://en.wikipedia.org/wiki/Economy_of_Brazil