Brazil's Economy

Brazil is the largest country in South America with the largest population and its economy is on the rise. It has an abundance of natural resources to make it the leader and the most powerful country in South America. Brazile provides agriculture, mining, manufacturing and service sectors, giving Brazil a very strong position in the global economy as well. What brought Brazil to its current economic position: Brazil's real wages fell during 2001 to 2003, making the economy grow only 2.2% (avg) per year. The country experienced a number of economic crises, both global and internal. Due to Brazil's strong economy and economic policies and programs, their economy was able to recover. Their currency also depreciated drastically from 2003 to 2006, which led to trade surplus. This led Brazil to increase their exports. Brazil's domestic debt was also on the rise from 1994 to 2003, but in 2006 country gained control by introducing economic programs that controlled taxes and increased public investment. Brazil's economy has continued to grow and develop since 2004 leading to the rise of employment and real wages. It's current GDP is $1.6 trillion wuth a real growth rate of 3.7%. Their unemployment rate is 9.6%. The major industries of Brazil are: textiles, shoes, aircraft, steel, chemicals, motor vehicles, etc. Agriculutral products are: coffee, rice, wheat, sugarcane etc. http://www.mapsofworld.com/south-america/economy/brazil.html