Brazil Economy
One of the main problems facing the Brazilian economy has been its dependence on imports of oil. With the recent increases in the price of oil, it has faced increased costs. As a result the Brazilian government has increased its attempts to make the economy less reliant on oil.
The Brazilian economy is one of the biggest stable democracy's in the world. It is also resource rich and so many wonder why it doesn't do better. Recent privatisations encourage foreign investment. However, weaknesses in infrastructure and a chronic crime problem often keep the economy below potential.
The OECD argue that for Brazil to make further progress it is important to maintain great control over fiscal policy and work at reducing the government budget deficit. Further macro economic stability is also important for sustaining long term economic growth.
Fundamentals of the Brazil Economy
| Currency | Real |
| Population | 180.7 million |
| Human Development Index | 79.2 |
| Adult Literacy | 88.6% |
| Capital | Brasilia |
| Main Trading Partners | United States 22%, Argentina, 7% Netherlands 6% China 5% |
| Education Spending as % of GDP | 4.2% |
Economic Statistics
| 2007 | 2008 | |
| GDP 2007 | 4.7% | 4.5% |
| Average Growth 1994-2007 | 2.4% | |
| GDP per head | $3,340 | |
| Inflation | 3.6% | 4.2% |
| Principal Exports | Soybeans, Chemical products, transport, metal goods | |
| Exchange Rate | 1.73 | |
| Current Account Deficit | +0.7 | |
| Budget Balance as % of GDP | -1.8% |
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