Reports from the International Monetary Fund and international private consultants show that at the end of the year Brazil’s GDP will rank sixth in the world and for the first time ahead of Britain’s GDP.
Brazil’s GDP is expected to grow 3.5% in 2011, less than originally expected by the government last January, but it will total US$ 2.44 trillion, enough to surpass the US$ 2.41 trillion from the United Kingdom.
The report was published by daily Folha de S. Paulo based on IMF data and the EIU, Economist Intelligence Unit and BMI, Business Monitor International.
“The fact that the Brazilian economy is overtaking that of the developed countries reflects the effects of the access of large segments of the poor population into the middle class and the consumer market,” said Robert Wood, a US analyst.
If the growth tendency in Brazil is confirmed in the coming years it is possible that it can overtake all European continent.
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Brazil to surpass UK and Become World’s Sixth Economy by 2012
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