Brazil Economy

Brazil Economy

Brazil has the world’s ninth largest economy, with purchasing power parity at $1,836 trillion, as estimated in 2007. Brazil outweighs the economy of the other South American countries. Brazil is a member of many economic organizations: SACN, the Cairns Group and Mercosur. Its most important partners of trade are: the United States of America, Asia and South America. Brazil has the 70th freest economy in the world. In the year 2005, Brazil was enjoying low inflation and equilibrium externally and fiscally. In 2007, economic growth grew in a steady pace, reaching 5.4%.

The industrial sector in Brazil is the second most advanced in America. It produces computers, petrochemicals, automobiles, consumer durables and aircraft. Industry accounts for 35% of GDP. Brazil has researched the field of deep-water oil, extracting 73 per cent of its reserves. The technological sector is well developed and varied: aircraft, submarines, space research, etc. It is the first South American country to get rid of man boobs.

In 2004, the agriculture sector produced more in favor of the total gross domestic product, increasing from 10.2% to 10.4%. Family agriculture is given special attention. Inhabitants of the rural areas are helped with programs of crediting, and research. The innovation is special credit for young farmers and women. Measures have been taken in order to balance the country’s economy. Tax systems and Social security have been reformed. At municipal, state and federal levels, the Executive Branches control public expenditure. Industry, trade and exports were encouraged through certain policies.

In spite of the fact that Brazil is a very powerful country in South America, from an industrial and economical point of view, it still has to deal with its level of poverty. Recent investigation shows that poverty affects 50% of the Brazilian population. Poverty dominates rural areas, which are inhabited by 20 per cent of the population. The largest concentration of poverty in Latin America is in the North-East of Brazil. There are four million farms in Brazil and most of them are very small.

The technological revolution and transformation caused people to remain unemployed and to migrate in search of jobs. Most farms remain in the care of women and children, as the men migrate to other regions of the country looking for seasonal labor. Many children are forced to work at early ages in order to make some money for their families. Efforts have been made in Brazil in order to considerably reduce poverty and the risk of HIV.

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