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, rice, beef, wheat (2022).More about the economy of Brazil
| Labor force | 108.695 million (2023 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 | 14.73% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | reals (BRL) per US dollar - |
| 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.) |
| Exchange rates 2019 | 3.944 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $164.448 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $355.021 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $324.673 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $362.21 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$30.828 billion (2023 est.) |
| Current account balance 2022 | -$48.253 billion (2022 est.) |
| Current account balance 2021 | -$46.358 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 79.1% of GDP (2022 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 (2022 est.) |
| On alcohol and tobacco | 1.7% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $346.639 billion (2023 est.) |
| Imports 2022 | $376.084 billion (2022 est.) |
| Imports 2021 | $306.087 billion (2021 est.) |
| Imports (partners) | China 24%, US 18%, Germany 5%, Argentina 5%, India 4% (2022) |
| Comodities Imports force | refined petroleum, fertilizers, vehicle parts/accessories, crude petroleum, pesticides (2022) |
| Exports | |
| Imports 2023 | $346.639 billion (2023 est.) |
| Imports 2022 | $376.084 billion (2022 est.) |
| Imports 2021 | $306.087 billion (2021 est.) |
| Exports (partners) | China 26%, US 11%, Argentina 5%, Netherlands 3%, Spain 3% (2022) |
| Comodities Exports force | soybeans, crude petroleum, iron ore, refined petroleum, corn (2022) |
| 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 | $18,600 (2023 est.) |
| Real GDP per capita 2022 | $18,100 (2022 est.) |
| Real GDP per capita 2021 | $17,700 (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 2023 | 7.95% (2023 est.) |
| Unemployment rate 2022 | 9.23% (2022 est.) |
| Unemployment rate 2021 | 13.16% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 17.9% (2023 est.) |
| Male | 15.6% (2023 est.) |
| Female | 20.9% (2023 est.) |
All Important Facts about Brazil
Want to know more about Brazil? Check all different factbooks for Brazil below.
