Tuesday September 05, 2006

Brazil the emerging powerhouse

business-times.asia1.com.sg :

Brazil is better known for producing talented footballers. But how many Singaporeans know that 80% of the frozen chickens we eat every year come from Brazil? How many know that Brazil is rich in oil and a top global producer of citrus fruits, frozen concentrated orange juice and coffee? Or a top exporter of maize, rice and beef?

Brazil is all that, and more. Brazil is now a global player in steel, automotive, petrochemicals and utilities production. Agriculture, manufacturing, and energy - Brazil has the largest reserves of crude in South America after Venezuela - today underpins a flourishing economy that's among the world's 10 largest. Brazil's economy, which boasts gross domestic product of about US$605 billion, has been growing strongly every quarter - the GDP expanded 5.2% in 2004, the biggest gain in a decade.

Brazil is not just rich in resources. With a population of 183 million people with money to spend, it offers a market big enough to tantalise investors. The country is fast emerging as the next economic powerhouse. Goldman Sachs has already picked Brazil, along with Russia, India and China - the BRIC economies, as the US investment banking firm called them - as one of the world's most important emerging economies.

See also :

1. Brazil is the next economic (and political) superpower
2. Brazil takes a major step toward oil self-sufficiency

(2006-09-05 12:37:26 SGT) [Biz] Permalink

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