Brazil: The powerhouse of South America

Tuesday, August 20th 2024 - 04:58 UTC


The Economic Giant of South America

As per the Observatory of Economic Complexity, Brazil is currently number 11 in the world in terms of GDP. When it comes to South America, it is by far the largest economy, and in the Americas, it comes third following Canada and the USA. Of course, this economic success is due to a variety of factors. One of which is its progressive stance when it comes to growth.

Most recently, Brazil is venturing into expanding the online gambling sector in the country by the end of July. This digital sector has been expanding all around the world, allowing players to enjoy games like jackpot slots through online platforms. Some popular titles you might have heard of are Wild Wild Quest, Chilli Fiesta, and Power of Gods.

Apart from these newer industries it’s planning to dip its toes into, Brazil is currently one of the global leaders in mining. Particularly, the export of its mineral resources has led it to be placed among the top five mineral producers globally, as advised by the USA ITA. Chiefly, we have to mention iron, manganese, and niobium, all of which are impacting the economy heavily.

Another industry that is worth mentioning is agriculture. Thanks to its vast landscape, the country has become the world’s primary source of products such as coffee, along with being a major producer of sugar and beef. Some other honorable mentions include their manufacturing and the service sector.

Moreover, for such a powerful country, it is not surprising to find out just how many economic alliances it is part of. Namely, we have to mention the Mercosur trade bloc. This originally comprised only Argentina, Brazil, Paraguay, and Uruguay, however, there are other countries that are associated with it, even if they’re not permanent members.

More:
https://en.mercopress.com/2024/08/20/brazil-the-powerhouse-of-south-america