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Division
of Investment and Export
PO Box 7970
Madison, WI 53707-7970
USA
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Vol.
8 #2, November 2008
Booming Brazil
 It
was not that long ago that business people would expect Brazil to be
more likely in the eye of an economic storm rather than being a
relatively safe harbor, but robust domestic demand, discovery of
substantial oil reserves, and an export boom has insulated the country
to some degree from the turbulence currently felt elsewhere in the
world.
Gross domestic product (GDP) expanded 6.1 percent in the third quarter
of the year compared to the same quarter last year. This exceeded
expectations and followed on a 5.6-percent expansion in the second
quarter. Investment activity accelerated, from the 13.4-percent
expansion in the second quarter to 20.1 percent in the third.
Exports rose a very strong 18.1 percent over the third quarter last
year. Imports registered more moderate, but still solid growth of
17.7 percent for the same period. Private consumption grew 5.7
percent in the third quarter while public consumption expanded by only
0.4 percent.
According to a report that was part of the 2007 National Survey by
Household Sampling (Pnad-2007) over 10 million Brazilians left poverty
and entered the middle class while 3.6 million moved from the middle
class to a higher income range between 2001 and 2007. Regional
inequality is still strong. The northeast part of the country
still has the highest poverty rates with 49 percent of its population
(25.3 million Brazilians) living with family income of less than 545.66
reais. If you would like additional information regarding
opportunities in Brazil, contact Ms. Susan Dragotta, Commerce’s
Latin American Specialist, susan.dragotta@wisconsin.gov, (262) 691-5147.
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