INTERNATIONAL ECONOMICS

Prof.: Dr. Kim, Rachel

Global Market of Brazil

Bruna Martins

Southern States University

Global Market of Brazil

Introduction

Brazil is characterized by being1one1of1the1top1ten1largest1economies1in1the1world, being at number nine. The country also has the eighth largest purchasing power parity. Brazil has a mixed economy, which relies on import substitution so that it can achieve economic growth. The growth domestic product (GDP) of Brazil is $1.868 billion as of 2018 and a GDP per capita of $9,703.17. Brazil1has1a1population1of1211 million1people1with1an1annual1growth1rate of 0.73%. It has a large population with a rank of six in the world. There are various demographic and economic characteristics of Brazil as compared with other nations in the world.

Population

The population of Brazil is one of the demographic factors of the country. Having a population of 211,899,591 people, the country sits at position six in the world ranking of the largest populations. The country covers an area of 8,515,767 km2 which can be regarded as large. This creates a population destiny of 24.96/km2, although the population is highly concentrated in the urban areas. The1largest1city1in1the1country1is1Sao Paulo, which houses more than 11.9 million residents and a further metropolitan population of 21.1 million. Brazil experiences a growth rate of 0.73% annually.

Demographics

The demographics in Brazil are diverse. Census in the region showed that the Brazilians are comprised of white1(48%), brown1(44%), black1(7%), yellow1(0.5%) and indigenous (0.25%). The main1religion1in1Brazil1is1Christianity with over 90% of the population being catholic. This makes them have the largest catholic population in the world at 123 million people. The Brazilian men have a life expectancy of 71.6 years while that of women is 78.8 years. This means that the Brazilian people will have greater demands on healthcare and their pensions in the years to come. On the other hand, the median age of the population is 32 years while 62% of the population is below 29 years.

Economic Development

Brazil has experienced some changes in its GDP. The GDP of the country stands at 1,868 billion US dollars as of 2018. The value of the GDP represents 3.01% of the world economy. Between the years 2000 and 214, Brazil1experienced1a1period1of1economic1and1social progress.1This progress was due to various factors that had happened in the economy such as, 29 million people1had1left1poverty1and the inequality had significantly declined. Also, the1income level1of1the1poorest140% in the country increased by 7.1%. Though during the period, Brazil experienced slow economic growth

There was a1phase1of1depressed1economic1activity1in1the1country, which was observed from the beginning of the decade. From 2006 up until 2010, there was a record of 4.5% growth rate of the economy. The growth rate started to decline between 2011 and 2014 with a record of 2.1% growth rate. This was followed by a significant contraction of the economy in 2015 and 2016. The reason for the decline in economic development were several. Falling of commodity prices was one of the reasons, which was coupled by the1country’s1limited1ability1to1carry1out fiscal1reforms. Recovery of the economy was experienced in 2017 with a growth of 1.1% which tricked into 2018.

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