If you run a company with global ambitions, there are good reasons for doing business in Brazil – not least because it is now the world’s 5th largest economy.
Brazil is also large in terms of population, land mass and natural resources, the latter making exports a major part of the overall economy. However, the country is now working hard to increase its connectivity with the rest of the world.
It already has the 2nd highest number of airports and the fact that Brazil is hosting both the World Cup in 2014 and the Olympics in 2016 shows commitment to being on the international stage.
While Brazil is a vibrant, exciting place to visit and experience, exporting to Brazil will not be easy for all newcomers, as suggested by the World Bank’s Ease of Doing Business ranking down in 116th place.
Much of the difficulty will be related to taxation and setting up a local presence if that is part of your business plan.
See other key stats for business in Brazil below:
|Size of Economy (GDP)||7||$2.2 Trillion|
|GDP per Capita||63||$10,773|
|Ease of Doing Business (World Bank)||116||53.35/100 DTF Score|
|Global Language Popularity||6||Portuguese: 215M Global Speakers|
|Area in Square KM||5||8,515,767|
|2013 Human Development Index (and Change since 2011)||85||Same Ranking as in 2010|
|Internet Speed (Ookla)||74||11.15 Mbps|
Unsurprisingly, Brazil has close trade relationships with neighbouring Argentina and nearby USA, but its main export destination is China, which accounts for 18% of exports from the country.
Brazil’s top export products include:
- Transport equipment (particularly aircraft and cars)
- Iron ore
- Textiles and Footwear
- Orange Juice
Brazil has been the largest producer of coffee in the world for 150 years. Tourism is a sector that is growing strongly and one that will be further enhanced following the publicity around the 2014 World Cup and 2016 Olympic Games.