Brazil's Most Influential Country

Brazil is known to be South America’s most influential country, one of the world’s largest democracies, and it is regarded as an economic giant. Brazil is said to have the 8th largest economy in the world by its titular GDP. Brazil operates a mixed economy as it has properties from both market-based capitalism and socialist planned. The mixed economy comprises of agriculture, mining and manufacturing sectors. Even though some industries, have been privatized such as railroads and utilities, the government still holds a massive control over in other industries. For example, the government owns more than half of the Brazil’s energy company. Despite the country’s economic progress, the vast amount of people living in poverty and government corruption

The increase of growth rate is beneficial to the population as it provides them with higher incomes, allowing the people to have a more reliable standard of living as the extra income allows them to buy goods and services. In 2011 the finance minister of Brazil, Guido Mantega said “it would take 20 years for Brail to have similar standard of living as Europe.” He also had something to say about the social and economic investment “That means we’ll have to continue growing faster than those countries, increasing employment and income levels. We have a big challenge ahead” said Mantega. After taking these words to consideration the government has started to work on a social policy. The government are trying to increase the income wages and that will give them more money to spend on produces, making them consumers. The unemployment rate in Brazil is estimated to be around 7.6% at the moment (that is a large amount). If there is an increase in unemployment rates it means that the nation will suffer poverty, causing the economy to grow weak. Nevertheless, Brazil’s innovations in social policy have lifted thousands of people out of poverty, making the economy more stable. In 2014 the country had a GDP of $5969.68 US dollars per capita, with a population of approximately 204.4 million. This means that it is equivalent to 47% of the world’s

The top 5 import destinations are China (15%), United States (14%), Argentina (7.4%), Germany (6.6%) and South Korea (4.6%). According to the government, in 2011, the top 20 goods imported by Brazil is equivalent to 46% of the products imported into the country. The main goods imported include: Refined Petroleum (7.3%), Crude Petroleum (5.7%), Cars (4.3%), Vehicle Parts (3.1%), and Petroleum Gas (2.7%). The Brazilians believe that their country can provide themselves with oil, but Brazil does not have quality petroleum. That’s why they are selling theirs and buying better oil from other countries. Motor vehicles are imported as there is less tax that the country needs to pay to import it compared to making it in