Brazil is the largest country in Latin America by land area, population and GDP. In the early years of the 21st century, the Brazilian economy grew at over 5% p.a. but the country saw a sharp slowdown in 2013 followed by a recession which lasted from 2014-2017. Although economic growth has lifted millions of Brazilians out of poverty since 2000, inequality and unemployment remain major social problems.
The Brazilian economy has a large agricultural sector, accounting for 6.6% of GDP, and Brazil is one of the world’s largest exporters of agricultural products, including beef, coffee, cotton, corn, rice, soya beans, wheat and sugar. Manufacturing only accounts for 20.7% of GDP but this still makes it the second-largest manufacturing economy in Latin America (after Mexico). Key industries include cars, steel, petrochemicals, aircraft and consumer durables.
The services sector makes up 72.7% of Brazil’s economy with financial services a particular strength.
Market research in Brazil is mostly concentrated in São Paulo but FieldworkHub also has capabilities in other cities, including Rio de Janeiro and Fortaleza. Most market research in Brazil needs to be conducted in Portuguese since less than 5% of the population speaks English.
|Population (2020 estimate):||212 million|
|GDP (USD, 2018):||$13 608 billion|
|GDP per capita (International $ at PPP, 2018):||$16 096|
|Currency:||Real (R$ or BRL)|
|Largest urban areas (by population, 2018 estimates):||São Paulo (21.7 million)|
Rio de Janeiro (13.3 million)
Belo Horizonte (6.0 million)
Pôrto Alegre (4.1 million)
Recife (4.0 million)
Fortaleza (4.0 million)