Economy

    Brazil has the eighth highest GDP globally with a GDP of two trillion dollars. The growth rate is approximately one to three percent a year. The GDP per capita is ten thousand dollars. This makes them third in countries around them. The countries with higher GDP per capita around the area are Argentina and Uruguay. Countries with lower GDP per capita include Columbia and Peru. There are many ways Brazil achieves this. One being industry and manufacturing. Brazil produces automobiles, steel, textiles, aircraft, and chemicals. The main place this takes place is in São Paulo. Another thing is agriculture. Major crops include soybeans, coffee, sugar, beef, and orange juice. Brazil gets most of its money from services like finance, retail, and telecommunications. Main Brazilian companies include Itaú Unibanco which is a bank. Another major source of income is tourism. Brazil gets millions of tourists yearly to places like Rio de Janeiro, the Amazon Rainforest, and Iguazu Falls. Energies like hydropower, biofuels, and offshore oil make lots of money in Brazil as well. The last main income source is mining. Brazil is home to the mining of things like iron ore, gold, bauxite, and niobium. These are crucial for Brazilian exports. Major Brazilian exports are soybeans, iron ore, crude oil, sugar, coffee, poultry, ethanol, beef, and aircraft. Imports include machinery, electronics, refined petroleum, fertilizers, pharmaceuticals, and chemicals. Their major trading partners are China, the United States, Argentina, and Europe. The key takeaways are that there is a diverse economy in Brazil and they rely heavily on exports.