Brazil’s economy grew by 7.5% in 2010, the fastest since 1986 and the 3rd largest in the world behind China and India.
Overall the economy grew 7.5% with gross domestic product (GDP) of Latin America’s biggest economy reaching 3.67 trillion Reais (US$2.21 trillion), according to figures released by the Brazilian Institute of Geography and Statistics (IBGE).
The IBGE attribute the high growth rate to the increase of domestic demands in the country, with industry (expanding 10.1%) being the highest growth sector.
Brazil’s economic growth surpassed countries such as South Korea, Japan, Germany and the United States and also exceeded the 5% world average GDP growth.
