Brazil - Economy
How is the economy of Brazil? Based on the information we have, Brazil has a

upper-middle income, largest Latin American economy; Mercosur, BRICS, G20 member and OECD accession candidate; growth driven by strong domestic consumption; tax simplification reforms aimed at addressing business conditions and lagging productivity; high inequality in income and access to health and education

. Key agricultural products in this country include: sugarcane, soybeans, maize, milk, cassava, oranges, chicken, beef, rice, wheat (2023).
More about the economy of Brazil
Labor force 106.79 million (2024 est.)
Industrial production growth rate 1.59% (2023 est.)
Industries textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment
Population below poverty line 4.2% (2016 est.)
Taxes and other revenues 14.2% (of GDP) (2023 est.)
Fiscal year
Exchange rates
Currency reals (BRL) per US dollar -
Exchange rates 2024 5.389 (2024 est.)
Exchange rates 2023 4.994 (2023 est.)
Exchange rates 2022 5.164 (2022 est.)
Exchange rates 2021 5.394 (2021 est.)
Exchange rates 2020 5.155 (2020 est.)
Debt - external
Debt - external 2023 $198.582 billion (2023 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $318.857 billion (2024 est.)
Reserves of foreign exchange and gold 2023 $355.021 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $324.673 billion (2022 est.)
Current account balance
Current account balance 2024 -$61.194 billion (2024 est.)
Current account balance 2023 -$27.933 billion (2023 est.)
Current account balance 2022 -$42.157 billion (2022 est.)
Public debt
Public debt 2023 83.7% of GDP (2023 est.)
Budget
Revenues $578.267 billion (2022 est.)
Expenditures $666.279 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.2% of GDP (2023 est.)
Remittances 2022 0.25% of GDP (2022 est.)
Remittances 2021 0.25% of GDP (2021 est.)
Household income
Lowest 10% 1.2% (2022 est.)
Highest 10% 41% (2022 est.)
Average household expenditures
On food 16.2% of household expenditures (2023 est.)
On alcohol and tobacco 1.7% of household expenditures (2023 est.)
Imports
Imports 2024 $377.05 billion (2024 est.)
Imports 2023 $340.195 billion (2023 est.)
Imports 2022 $369.861 billion (2022 est.)
Imports (partners) China 23%, USA 16%, Germany 5%, Argentina 5%, Russia 4% (2023)
Comodities Imports force refined petroleum, fertilizers, crude petroleum, vehicle parts/accessories, gas turbines (2023)
Exports
Imports 2024 $377.05 billion (2024 est.)
Imports 2023 $340.195 billion (2023 est.)
Imports 2022 $369.861 billion (2022 est.)
Exports (partners) China 30%, USA 10%, Argentina 5%, Netherlands 3%, Chile 2% (2023)
Comodities Exports force soybeans, crude petroleum, iron ore, raw sugar, corn (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $4.016 trillion (2023 est.)
Real GDP (purchasing power parity) 2022 $3.902 trillion (2022 est.)
Real GDP (purchasing power parity) 2021 $3.788 trillion (2021 est.)
GDP (official exchange rate) $2.174 trillion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $19,000 (2023 est.)
Real GDP per capita 2022 $18,600 (2022 est.)
Real GDP per capita 2021 $18,100 (2021 est.)
GDP - composition, by sector of origin
Agriculture 6.2% (2023 est.)
Industry 22.3% (2023 est.)
Services 58.9% (2023 est.)
GDP - composition, by end use
Household consumption 63.3% (2023 est.)
Government consumption 18.2% (2023 est.)
Investment in fixed capital 16.5% (2023 est.)
Investment in inventories -0.5% (2023 est.)
Exports of goods and services 18.1% (2023 est.)
Imports of goods and services -15.7% (2023 est.)
Unemployment rate
Unemployment rate 2024 7.6% (2024 est.)
Unemployment rate 2023 7.9% (2023 est.)
Unemployment rate 2022 9.2% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 18% (2024 est.)
Male 15.7% (2024 est.)
Female 20.9% (2024 est.)
All Important Facts about Brazil

Want to know more about Brazil? Check all different factbooks for Brazil below.

Brazil is found in South America