The largest country in South America, brazil, is a leading country in the continent in terms of its economy. brazil is also the ninth largest economy worldwide in the terms of GDP based on Purchasing Power Parity (PPP). The country blessed with rich deposits of minerals and natural resources is also one of the fastest growing economies in the world. The country also boasts to be the very first country to be engaged in the deep water oil research.
The important economic sectors of the country is agriculture, manufacturing, services and mining sector. All these sectors together provide almost 99 percent of the country's income.
The agricultural sector in brazil is very well developed and it produces a surplus of agricultural products using modern and mechanized methods and good varieties of seeds. Almost fifteen percent of the labor force of brazil is involved in Agriculture and it contributes 3.5 percent of the total GDP. The southern semi-temperate region of the country which has very good irrigation facilities and high levels of rainfall concentrates on the cultivation of food grains and oil seeds. The northern less fertile land is the major producer of cocoa, tropical fruits and forest products. The country's soybean production is ranked second in the world. brazil is also the major exporter of Soybean. It also exports other agricultural products which are produced in very high quantity, mainly coffee, sugarcane and meat. Wheat, rice, corn and citrus are also among the important crops of the country.
brazil has one of the most developed industrial sectors which contribute more than 28 percent of the GDP to Brazilian economy. The large reserves of natural resources provide the raw material for the majority of brazil Industry and have helped tremendously in the growth of the industrial sector. Fourteen percentage of the labour force in brazil is involved in the industrial sector related jobs and the main industries in the country are automobile industry, food processing industry, mining, aircraft industry and consumer goods industry. Petroleum processing industry, cement, chemicals and fertilizer manufacturing industries are the major industries. Manufacturing of electronics and telecommunication equipments are some of the other industries in brazil .
The most number of people in the country are involved in one or the other service sector. Almost two third of the population of brazil are working under the service sector which contributes about 63 percent towards the total GDP of the country. The GDP from the different services provided by brazil has increased over years when other sectors are slowly declining. The major service sectors of the country are retail sale, hospitability industry, and public utilities.
The brazil economy is having a rapidly increasing export which almost doubled in 2005 when compared to the trade in 2001; but the year 2009 faced a 20% decrease in export when compared with the previous year. Some of the export products from brazil which gives the country the pioneer position in the world are sugar, coffee and meat. Metal,textile, automobiles and aircraft are some of the other exported products. The commodities which brazil imports regularly from other country are automotive parts, electronics, chemicals, oil and transport structures. United States is the major trade partner of brazil with 14% of the export going to the country and 14.7% coming from it. Argentina, China, Germany, Japan and Netherlands are other major trade partners of brazil .
The total working population of brazil is more than 95 million according to the 2009 estimate and about 6.93 million people (7.3 percent) are unemployed. The Gross Domestic Production of brazil in 2009 has increased greatly, about 5 percent when compared to the year 2007 when the GDP was 1.924 trillion US dollars. But when compared with the GDP of the previous year (2008), the GDP has only increased by a very small percentage, about 0.1% of the 2008 value. The present GDP per Capita figure of brazil is 10,200 US dollars. The country with well established trade and industries also suffers a public debt of 103 billion dollar which account for the 6.4 percent of the GDP. The total export of the country during the year 2009 was estimated to be around 159 billion US Dollars and the import was 136 million U S dollars. The gross external debt of brazil as estimated on 31st of December 2009 was found to be 216 billion US dollars.