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Brazil has the tenth largest economy by nominal GDP in the world as of 2015, and seventh largest by purchasing power parity. The Brazilian economy is characterized by moderately free markets and an inward-oriented economy.

Brazil’s economy is the largest of Latin America and the second largest in the western hemisphere. From 2000 up to 2012, Brazil was one of the fastest-growing major economies in the world, with an average annual GDP growth rate of over 5%, with its economy in 2012 surpassing that of the United Kingdom, making Brazil the world's sixth largest economy. Brazil's economy growth has however decelerated in 2013 and had almost no liquid growth throughout 2014, and the country's economy is expected to contract by 1% in 2015.

According to the World Economic Forum, Brazil was the top country in upward evolution of competitiveness in 2009, gaining eight positions among other countries, overcoming Russia for the first time, and partially closing the competitiveness gap with India and China among the BRIC economies. Important steps taken since the 1990s toward fiscal sustainability, as well as measures taken to liberalize and open the economy, have significantly boosted the country’s competitiveness fundamentals, providing a better environment for private-sector development.

In 2012 Forbes ranked Brazil as having the 5th largest number of billionaires in the world, a number much larger than what is found in other Latin American countries, and even ahead of United Kingdom and Japan.

Brazil is a member of diverse economic organizations, such as Mercosur, Unasul, G8+5, G20, WTO, and the Cairns Group.


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