Panorama - Brazil
Brazil holds the 7th largest GDP in the world and it is the 5th biggest in terms of extension and of population (over 195 million inhabitants). It is also the main economy in Latin America, representing 40% of the total activity and with a GDP per capita of 11,1 USD. In 2001 with the creation of the acronym BRIC, together with Russia, India and China, Brazil was raised as one of the emerging economies bound to grow. The idea that the biggest economy in LATAM was going to take off was based on high commodity prices due to Chinese rapid growth, the deep oil field found recently discovered (the Pre-Salt) and the fertile land and abundant mineral sources. The country is a major producer and exporter of many commodities, such as soya and iron ore.