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You are here » Home Page » News » Brazil is the 2nd Fastest going economy in the Bric group

Brazil is the 2nd Fastest going economy in the Bric group

2011-11-10 source own

It's only now that Brazil was starting to realise its economic potential as in the past it's been very much a sleeping giant. Brazil is the 2nd fastest growing economy in the Bric group of country's which are Russia, India, China and South Africa. Brazil is the 10th Largest economy in the world with a GDP of US$ 1.78 Trillion. In 2009 Brazil had a population of 192 million people which is the 5th largest in the world and is the 5th largest by the Territory.

In recent years Brazil growth has propelled it onto the world stage and its been given an investment grade credit rating by Standard & Poor and Fitch in 2008 and Moody’s elevated Brazil to this level in 2009. Despite the World Economic slowdown the Brazilian economy is booming and will probably be the worlds 8th largest by the end of 2008 . What makes Brazil quite unique is the strength of its domestic demand and one industry that is rapidly expanding is the auto industry which is now the 8th Largest market in the World for car sales. Brazil is politically stable and has a well established democratic system, Importantly despite the boom Brazil inflation is still low and at the moment Brazil is among the Worlds top 5 investment destination . With Brazil Hosting the world cup in 2014 and the Olympics in 2016 this is adding to the overall development and well being across Brazil with the boom years sure to carry on .

The worlds Luxury Brands are rushing into the Brazilian market, in 2009 over 50 leading brands established a presence in Brazil and in 2011 this is set to double. One good example of a brand doing well in Brazil would be Louis Vuitton which has 4 retail outlets in Sao Paulo, Emporio Armani two stores in Sao Paulo sell over double the amount of two similar stores in New York and now they are looking to roll out 7 more stores across Brazil. Apple entered the Brazilian market in 2002 and they now have expanded to 20 Stores across Brazil. It's estimated that the Brazilian Luxury goods market is worth over $7 Billion and is only 2nd to China from the other Bric countries which are Brazil, Russia, India, China and South Africa. A key factor in the growth in the Luxury goods market is the growing middle class and its estimated that between 2006 and 2008 over 30 Million Brazilians joined the Ranks of the middle which numbers over 100 million people. Over 150 000 people in Brazil have a wealth of over $ 1 million US dollars and has a young population with 60% of Brazilians under the age of 39.

BricPartner states as with any of the Bric countries the key to doing business in Brazil is finding local Partners who understand the market and therefore have a strong local network across Brazil . BricPartner knows who your potential Partners are so if you want direct access to Local Partners in Brazil as well as the other Bric countries then we will ensure your company builds solid Business Partnerships across Brazil and the Bric region.

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