The economy of Brazil
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, the economy of Brazil is the world's eighth largest in terms of its nominal GDP (Brazilian GDP was 1.31 trillion United States dollars in 2010). Its economy is the largest in Latin American nations and the second largest in the western hemisphere. Brazil is one of the fastest-growing major economies in the world with an average annual GDP growth rate of over 5 percent. . The Brazilian economy has been predicted to become one of the five largest economies in the world in the decades to come.According to Xinhua News Agency, Brazil's GDP shrank 0.44% in 2009. However, With an export recovery, consumer and investor confidence soon revived and GDP growth returned to positive in 2010. Brazil's strong growth and high interest rates make it very attractive in the investment radar of foreign countries and enterprises.
In economics, BRICS refers to a group of countries, namely, Brazil, Russia, India and China, four countries with massive potential. They features a similar stage of newly advanced economic development.