Updated in May 2024.
Moderate growth, with rising fiscal risk
B2
MEDIUM 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 |
Strengths & Weaknesses
![Strenghts](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Brazil/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper_copy_copy/wrapper/image.img.82.3360.png/1720687529774/plus.png)
- 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
![Weaknesses](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Brazil/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1720687542983/minus.png)
- 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
Economic Overview
Trade structure by destination/origin
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
China
26.8%
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1 |
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United States
11.4%
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2 |
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Argentina
4.6%
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3 |
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Netherlands
3.6%
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4 |
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Spain
2.9%
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5 |
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Trade structure by product
(% of total, annual 2022)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
16.9%
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1 |
12.4%
Petroleum, petroleum products and related materials
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Oil seeds and oleaginous fruits
14.1%
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2 |
9.1%
Fertilizers other than group 272
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Metalliferous ores and metal scrap
10.8%
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3 |
6.4%
Organic chemicals
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Meat and meat preparations
7.5%
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4 |
5.8%
Road vehicles
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Iron and steel
5.2%
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5 |
5.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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