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Brazil is the largest national economy in Latin America, the world's ninth largest economy and the eighth largest in purchasing power parity (PPP) according to 2018 estimates. Brazil has a mixed economy with abundant natural resources. After rapid growth in preceding decades, the country entered an ongoing recession in 2014 amid a political corruption scandal and nationwide protests.

Its Gross domestic product (PPP) per capita was $15,919 in 2017[261] putting Brazil in the 77th position according to IMF data. Active in agricultural, mining, manufacturing and service sectors Brazil has a labor force of over 107 million (ranking 6th worldwide) and unemployment of 6.2% (ranking 64th worldwide).[262]

The country has been expanding its presence in international financial and commodities markets, and is one of a group of four emerging economies called the BRIC countries.[263] Brazil has been the world's largest producer of coffee for the last 150 years.[24]

Brazil's diversified economy includes agriculture, industry, and a wide range of services.[264] Agriculture and allied sectors like forestry, logging and fishing accounted for 5.1% of the GDP in 2007.[265] Brazil is the largest producer of sugar cane,[266] soybeans,[267] coffee,[268] orange,[269][270] and is the 2nd largest producer in the world of papaya,[271] 3rd largest of maize,[267] tobacco[272]Northern, Northeast, Central-West, Southeast and Southern. The Brazilian regions are merely geographical, not political or administrative divisions, and they do not have any specific form of government. Although defined by law, Brazilian regions are useful mainly for statistical purposes, and also to define the distribution of federal funds in development projects.

Municipalities, as the states, have autonomous administrations, collect their own taxes and receive a share of taxes collected by the Union and state government.[17] Each has a mayor and an elected legislative body, but no separate Court of Law. Indeed, a Court of Law organized by the state can encompass many municipalities in a single justice administrative division called comarca (county).

Brazil is the largest national economy in Latin America, the world's ninth largest economy and the eighth largest in purchasing power parity (PPP) according to 2018 estimates. Brazil has a mixed economy with abundant natural resources. After rapid growth in preceding decades, the country entered an ongoing recession in 2014 amid a political corruption scandal and nationwide protests.

Its Gross domestic product (PPP) per capita was $15,919 in 2017[261] putting Brazil in the 77th position according to IMF data. Active in agricultural, mining, manufacturing and service sectors Brazil has a labor force of over 107 million (ranking 6th worldwide) and unemployment of 6.2% (ranking 64th worldwide).[262]

The country has been expanding its presence in international financial and commodities markets, and is one of a group of four emerging economies called the BRIC countries.[263] Brazil has been the world's largest producer of coffee for the last 150 years.[24]

Brazil's diversified economy includes agriculture, industry, and a wide range of services.[264] Its Gross domestic product (PPP) per capita was $15,919 in 2017[261] putting Brazil in the 77th position according to IMF data. Active in agricultural, mining, manufacturing and service sectors Brazil has a labor force of over 107 million (ranking 6th worldwide) and unemployment of 6.2% (ranking 64th worldwide).[262]

The country has been expanding its presence in international financial and commodities markets, and is one of a group of four emerging economies called the BRIC countries.[263] Brazil has been the world's largest producer of coffee for the last 150 years.[24]

Brazil's diversified economy includes agriculture, industry, and a wide range of services.[264] Agriculture and allied sectors like forestry, logging and fishing accounted for 5.1% of the GDP in 2007.[265] Brazil is the largest producer of sugar cane,[266] soybeans,[267] coffee,[268] orange,[269][270] and is the 2nd largest producer in the world of papaya,[271] 3rd largest of maize,[267] tobacco[272][273] and pineapple,[274][275] 4th place in cotton[276][277] and cassava,[278] 5th place in coconut[279] and lemon,[280] 6th in cocoa[281] and avocado, 9th in rice,[268] 10th in tomato[282] and 11th in grape[283] and apple.[284][285] The country is also one of the 3 largest banana producers in the world,[286][287] but almost all production is destined for national consumption. The country also produces large quantities of beans,[288][289] peanut,[290] potato,[291][292] carrot,[293] cashew nuts,[294] tangerine,[295] persimmon,[296] strawberry,[297] guaraná,[298] guava, açaí,[299] Brazil nut,[300][301] yerba mate,[302] wheat, among others. Part of the production is exported, and another part goes to the domestic market.

In the production of animal proteins, Brazil is today one of the largest countries in the world. In 2019, the country was the world's largest exporter of chicken meat.[304][305] It was also the second largest producer of beef,[306] the world's third largest producer of milk,[307] the world's fourth largest producer of pork[308] and the seventh largest producer of eggs in the world.[309]

In the mining sector, Brazil stands out in the extraction of iron ore (where it is the second world exporter), copper, gold, bauxite (one of the 5 largest producers in the world), manganese (one of the 5 largest producers in the world), tin (one of the largest producers in the world), niobium (concentrates 98% of reserves known to the world) and nickel. In terms of precious stones, Brazil is the world's largest producer of amethyst, topaz, agate and one of the main producers of tourmaline, emerald, aquamarine and garnet.[310][311][312][313][314][315]

Industry in Brazil – from automobiles, steel and petrochemicals to computers, aircraft and consumer durables – accounted for 30.8% of the gross domestic product.[265] Industry is highly concentrated in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte.[316] Brazil has become the fourth largest car market in the world.[317] Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef.[318] In total, Brazil ranks 23rd worldwide in value of exports. In the food industry, in 2019, Brazil was the second largest exporter of processed foods in the world.[319][320][321] In 2016, the country was the 2nd largest producer of pulp in the world and the 8th producer of paper.In the mining sector, Brazil stands out in the extraction of iron ore (where it is the second world exporter), copper, gold, bauxite (one of the 5 largest producers in the world), manganese (one of the 5 largest producers in the world), tin (one of the largest producers in the world), niobium (concentrates 98% of reserves known to the world) and nickel. In terms of precious stones, Brazil is the world's largest producer of amethyst, topaz, agate and one of the main producers of tourmaline, emerald, aquamarine and garnet.[310][311][312][313][314][315]

Industry in Brazil – from automobiles, steel and petrochemicals to computers, aircraft and consumer durables – accounted for 30.8% of the gross domestic product.[265] Industry is highly concentrated in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte.[316] Brazil has become the fourth largest car market in the world.[317] Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef.[318] In total, Brazil ranks 23rd worldwide in value of exports. In the food industry, in 2019, Brazil was the second largest exporter of processed foods in the world.[319][320][321] In 2016, the country was the 2nd largest producer of pulp in the world and the 8th producer of paper.[322][323][324] In the footwear industry, in 2019, Brazil ranked 4th among world producers.[325][326][327][328] In 2019, the country was the 8th producer of vehicles and the 9th producer of steel in the world.[329][330][331] In 2018, the chemical industry of Brazil was the 8th in the world.[332][333][334] In textile industry, Brazil, although it was among the 5 largest world producers in 2013, is very little integrated in world trade.[335]

Brazil pegged its currency, the real, to the U.S. dollar in 1994. However, after the East Asian financial crisis, the Russian default in 1998[336] and the series of adverse financial events that followed it, the Central Bank of Brazil temporarily changed its monetary policy to a managed float regime[337] scheme while undergoing a currency crisis, until definitively changing the exchange regime to free-float in January 1999.[338]

Brazil received an International Monetary Fund (IMF) rescue package in mid-2002 of $30.4 billion,[339] a record sum at the time. Brazil's central bank repaid the IMF loan in 2005, although it was not due to be repaid until 2006.[340] One of the issues the Central Bank of Brazil recently dealt with was an excess of speculative short-term capital inflows to the country, which may have contributed to a fall in the value of the U.S. dollar against the real during that period.[341] Nonetheless, foreign direct investment (FDI), related to long-term, less speculative investment in production, is estimated to be $193.8 billion for 2007.[342] Inflation monitoring and control currently plays a major part in the Central bank's role in setting short-term interest rates as a monetary policy measure.[343]

Between 1993 and 2010, 7012 mergers and acquisitions with a total known value of $707 billion with the involvement of Brazilian firms were announced.[344] The year 2010 was a new record in terms of value with US$115 billion in transactions. The largest transaction with involvement of Brazilian companies was the Cia. Vale do Rio Doce acquisition of Inco in a tender offer valued at US$18.9 billion.

Corruption costs Brazil almost $41 billion a year alone in 2010, with 69.9% of the country's firms identifying the issue as a major constraint in successfully penetrating the global market.[345] Local government corruption is so prevalent that voters perceive it as a problem only if it surpasses certain levels, and only if a local media e.g. a radio station is present to divulge the findings of corruption charges.[346] Initiatives, like this exposure, strengthen awareness which is indicated by the Transparency International's Corruption Perceptions Index; ranking Brazil 69th out of 178 countries in 2012.[347] The purchasing power in Brazil is eroded by the so-called Brazil cost.[348]

Brazil also has a large cooperative sector that provides 50% of the food in the country.[349] The world's largest healthcare cooperative Unimed is also located in Brazil, and accounts for 32% of the healthcare insurance market in the country.[350]

Brazil is the world's tenth largest energy consumer with much of its energy coming from renewable sources, particularly hydroelectricity and ethanol; the Itaipu Dam is the world's largest hydroelectric plant by energy generation,[351] and the country has other large plants like Belo Monte and Tucuruí. The first car with an ethanol engine was produced in 1978 and the first airplane engine running on ethanol in 2005.[352] In total electricity generation, in 2019 Brazil reached 170,000 megawatts of installed capacity, more than 75% from renewable sources (the majority, hydroelectric plants).[353]

Recent oil discoveries in the Pre-salt layer have opened the door for a large increase in oil production.[354] The governmental agencies responsible for the energy policy are the Ministry of Mines and Energy, the National Council for Energy Policy, the National Agency of Petroleum, Natural Gas and Biofuels, and the National Agency of Electricity.[355] In the beginning of 2020, in the production of oil and natural gas, the country exceeded 4 million barrels of oil equivalent per day, for the first time. In January this year, 3.168 million barrels of oil per day and 138.753 million cubic meters of natural gas were extracted.[356]

Pre-salt layer have opened the door for a large increase in oil production.[354] The governmental agencies responsible for the energy policy are the Ministry of Mines and Energy, the National Council for Energy Policy, the National Agency of Petroleum, Natural Gas and Biofuels, and the National Agency of Electricity.[355] In the beginning of 2020, in the production of oil and natural gas, the country exceeded 4 million barrels of oil equivalent per day, for the first time. In January this year, 3.168 million barrels of oil per day and 138.753 million cubic meters of natural gas were extracted.[356]

Tourism in Brazil is a growing sector and key to the economy of several regions of the country. The country had 6.36 million visitors in 2015, ranking in terms of the international tourist arrivals as the main destination in South America and second in Latin America after Mexico.[358] Revenues from international tourists reached US$6 billion in 2010, showing a recovery from the 2008–2009 economic crisis.[359] Historical records of 5.4 million visitors and US$6.8 billion in receipts were reached in 2011.[360][361]

Natural areas are its most popular tourism product, a combination of ecotourism with leisure and recreation, mainly sun and beach, and adventure travel, as well as cultural tourism. Among the most popular destinations are the Amazon Rainforest, beaches and dunes in the Northeast Region, the Pantanal in the Center-West Region, beaches at Rio de Janeiro and Santa Catarina, cultural tourism in Minas Gerais and business trips to São Paulo.[362]

In terms of the 2015 Travel and Tourism Competitiveness Index (TTCI), which is a measurement of the factors that make it attractive to develop business in the travel and tourism industry of individual countries, Brazil ranked in the 28st place at the world's level, third in the Americas, after Canada and United States.[363][364]

Brazil's main competitive advantages are its natural resources, which ranked 1st on this criteria out of all countries considered, and ranked 23rd for its cultural resources, due to its many World He

Natural areas are its most popular tourism product, a combination of ecotourism with leisure and recreation, mainly sun and beach, and adventure travel, as well as cultural tourism. Among the most popular destinations are the Amazon Rainforest, beaches and dunes in the Northeast Region, the Pantanal in the Center-West Region, beaches at Rio de Janeiro and Santa Catarina, cultural tourism in Minas Gerais and business trips to São Paulo.[362]