Brazil Economy Written 20112010
By Amelia Meyer
Brazil’s economy is a globally relevant one. It is, by nominal GDP (Gross Domestic Product), the seventh largest in the world by purchasing power parity. The nominal GDP was US $2.09 trillion in 2010, and is estimated to increase by about 5% every year. Its economy is the largest in all of Latin America and the second-largest in the entire Western Hemisphere.
Initiatives towards fiscal sustainability and a liberal, open economy have aided in ensuring that Brazil’s is an ever-growing economy on an upward slope. Its currency is the Brazilian Real.