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31 Oct 2011

Brazil to become 6th largest economy

Read more: Brazil to become sixth world economy, overtaking Britain

At the end of 2011, Brazil's GDP will climb one position being ranked as the sixth biggest economy in the world. The Latin country will overtake Britain's GDP, accoding to a report published by the newspaper Folha de Sao Paulo, based on data from the IMF, the Economist Intelligence Unit and Business Monitor International.

Although Brazil's GDP is only expected to grow 3.5 % this year, less than originally expected by the government in Jan, it will total US$2.44 trillion compared to the 2.41 from Britain.

If the growth tendency in Brazil is confirmed, Brazil is likely to overtake European countries, including Germany, by 2020.  

Source: Folha de Sao Paulo