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IMPORTANT: As of July 1st, 2011, functions once performed by the Wisconsin Department of Commerce have been moved to other state agencies and the Wisconsin Economic Development Corporation. The former Commerce web site will continue to exist for the next several months as resources are moved to new web site locations. We will make every attempt possible to direct our users to the new locations as web resources are moved.

Division of Investment and Export
PO Box 7970
Madison, WI 53707-7970
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Vol. 8 #2, November 2008

Booming Brazil
Brazilian FlagIt 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.