Type of Economy

Brazil has a moderate free market and export-oriented economy. Measured nominally, its Gross Domestic Product surpasses a trillion dollars, and measured by purchasing power parity, $1.8 trillion, making it the tenth largest economy in the world and the second largest in the Americas.

Blessed with abundant natural resources, Brazil has become the most powerful country in South America in economic terms. With large and growing agricultural, mining, manufacturing and service sectors, the nation has acquired a strong position in global economy.

Economy of Brazil also has weaknesses. These are mostly related to debts, domestic debts went up from 1994 to 2003. But Brazil controlled this rise in 2006. The president has introduced economic programs to control taxes and increase public investment.