Moderate growth, with rising fiscal risk
SENSITIVE RISK
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD 1920.1bn (World ranking 11, World Bank 2022) |
Population | 215.3 mn (World ranking 7, World Bank 2022) |
Form of state | Presidential republic |
Head of state |
Luiz Inácio Lula da Silva (President) |
Next elections | 2026, presidential and legislative |
- Important role on an international and regional scale
- Diversified economy
- Growing middle class
- Robust foreign direct investment inflows, high level of foreign exchange reserves and low external debt
- Support for IFIs likely if needed
- Vulnerable to global commodity prices
- High production costs
- High taxation and red tape ("Brazil cost")
- Large fiscal deficits and increasing public debt
- Political and social tensions on the back of corruption and high income inequality
Trade structure by destination/origin
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
China
26.8%
|
1 |
23.2%
China
|
United States
11.4%
|
2 |
18.6%
United States
|
Argentina
4.6%
|
3 |
4.7%
Argentina
|
Netherlands
3.6%
|
4 |
4.6%
Germany
|
Spain
2.9%
|
5 |
3.3%
India
|
Trade structure by product
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
16.9%
|
1 |
12.4%
Petroleum, petroleum products and related materials
|
Oil seeds and oleaginous fruits
14.1%
|
2 |
9.1%
Fertilizers other than group 272
|
Metalliferous ores and metal scrap
10.8%
|
3 |
6.4%
Organic chemicals
|
Meat and meat preparations
7.5%
|
4 |
5.8%
Road vehicles
|
Iron and steel
5.2%
|
5 |
5.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Collection Complexity
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