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Covering 47.3% of the continent’s land, 8.5 million square kilometers (3.2 million square miles) and with over 208 million people, Brazil is the largest country in both South America and Latin America, the fifth-largest country by size, and the fifth most populous in the world. Bounded by the Atlantic Ocean, Brazil has a coastline of 7491 kilometers, sharing borders with all the countries in South America except Ecuador and Chile. It is also one of the most multicultural and ethnically diverse nations, due to mass immigration from around the world over a century.
Amazon River basin contains a vast tropical forest, home to diverse wildlife and a variety of ecological systems. Brasilia is the capital, and Sao Paulo is the most populous city in the country. Brazil's biodiversity is legendary in scope, including powdery white-sand beaches. It is the largest country with Portuguese as its official language and the only one in the American continent.
Religion: About two-thirds of the Brazilian people follow Roman Catholicism, and it also has the world's largest Catholic population. Some people follow Protestantism, Spiritism, and very few follow other religions like Buddhism, Judaism, and Islam.
Culture: Brazilian culture varies substantially across the country, coming from an international mix of European colonizers, Africans, and Asian communities. Most Brazilians are immigrants from these three ethnic groups: Amerindians, European settlers, and Africans. This diversity of cultures has created a rich religious, musical, and culinary culture.
Food: Feijoada and Pastel are among the most popular foods. Feijoada is a black bean and meat stew originated from Recife. Acai, cupuacu, mango, papaya, guava, orange, passion fruit, pineapple, and hog plum are among the local fruits.
National Monetary Council, under the direction of the minister of finance, is Brazil’s chief financial policy-making federation.
It supervises the Central Bank of Brazil, which issues currency and controls the money supply, credit, foreign capital, and other top-level financial matters. The federal government uses other public financial institutions to implement its policies; the most important institution among all, is the Bank of Brazil. Like any other developing country, Brazil needs resources, primarily financial resources, to thrive. The financial institutions still practice most of the financial planning, and real independent financial outlining is still in their infancies. Brazil’s life insurance market is growing fast, and the two key drivers are increased sales of deferred annuity products and bancassurance. Pension products accounted for 79.7% of the life insurance industry in Brazil.
Mobile banking has a significant effect and is the preferred channel for financial services in Brazil. It accounts for 34% of all the transactions made in the country according to data from FEBRABAN, the Brazilian Federation of Banks.
The government is involved in expanding competition in the banking industry by facilitating access for new entrants. Recently, the government together with the central bank and the insurance governor announced an initiative to establish a regulatory sandbox for fintech and insurance development.
|Agriculture||Coffee, soybeans, wheat, rice, corn, sugarcane, cocoa & citrus.|
|Manufacture||Glasses, carpet, oil, uranium, copper, lead, zinc, gold, tin & chromite.|
|Services (Including financial)||68.1% (2013 estimate)|
|Petrobras||Oil and Gas|
|Banco do Brasil||Banking|
|Banco do Brasil||Banking|
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The B3- Brasil Bolsa Balcao S.A (Brazil Stock Exchange), formerly BM&FBOVESPA, is the second oldest exchange of the country, located in Sao Paulo. It had a market value of R$2.37 Trillion as of 2011, making it the 13th-largest stock exchange of the world. Sao Paulo Stock Exchange (Bovespa) and Brazilian Mercantile and Futures Exchange (BM&F) merged in May 2008, creating BM&FBOVESPA.
Sao Paulo Stock Exchange, founded in 1890, had been having a long story of providing services to the stock market and the Brazilian economy. Until the mid-1960s, Bovespa and other Brazilian stock markets remained under state-controlled companies. Bovespa was the first Brazilian stock market to implement an automated system for distribution of information online and in real-time, through an extensive network of computer terminals.
The benchmark indicator of B3 is Indice Bovespa, also known as Ibovespa. It is a leading stock market index which tracks the performance of around 50 most liquid stocks traded on the Sao Paulo Stock Exchange. As of Jan 2, 1968, the index had a base value of BRL 100. It has been adjusted 11 times from 1983 to 1997. B3 also has offices in Rio de Janeiro, Shanghai and London.
Brazil's market capitalization accounted for 46.6 % of its nominal GDP in Dec 2018. As of 2018, its market value was US 1.0 trillion. The most valuable stocks of Brazil are:
Economic Crisis 2014-2016: The years between 2003 and 2014 was a transformational decade in Brazil’s history. There was an economic boom which lifted 29 million people out of poverty and reduced the gap in social inequality, which earned its place as 'B' in the acronym BRICS, representing the five countries prominent for their quick growth. But in 2014 the economy started to fall, and by 2015 the reduction rate of poverty and inequality had deteriorated. There was a political crisis, including the issues related to the impeachment of President Dilma Rousseff and dissatisfaction with her system. By the end of 2015, the economy shrunk by 3.8%, manifesting the worst annual performance since 1981. Until the first quarter of 2017, the GDP started to expand by 1.4%, marking the end of the recession eventually; the key drivers of the growth were exports and private investments.
Economic Crisis 2008: In 2006, Brazil had just entered a further vigorous growth cycle. Consumer liabilities, consumer debt, and home mortgage debt were low. At the end of 2008, its industry was significantly affected. First, exports of manufactured goods fell considerably. The greatest obstacle that the Brazilian exporter faced was a sharp drop in sales to emerging countries; secondly, US$ funding for exports impacted Brazil as well; finally, credit restraint furthermore affected the domestic market operations. Companies were adversely impacted as Brazilian real (official currency) devalued, and many of the companies were facing bankruptcy. GDP fell by 2.9% in the last quarter of 2008 and 0.9% in the first quarter of 2009. Brazil’s overall economy began to recover in the second quarter of 2009, even though the forecast of industries remained negative for the year. Real personal income grew between October 2008 and January 2009 despite the crisis. Retail trade continued to have a positive trend and ended the year with an estimated growth of 5.6%. Other activities, such as telecommunications, real estate and financial sectors, also presented well as the result of improved personal spending.
As the main Latin American country, Brazil inherited its language and culture from Portugal. Native inhabitants are mainly migrant Tupi-Guarani Indians. In 1500, Adm. Pedro Alvares Cabral asserted the region for Portugal. The early travelers returned a wood that created a red color, pau-Brasil, from which the land gained its name. Portugal started colonization in 1532 and made the territory an imperial settlement in 1549.
In 1665, the Peace Treaty of The Hague was signed. Portugal lost its Asian provinces and had to pay 63 tons of gold to repay the Dutch Republic for the loss of its settlement.
Brazil became the center of the Portuguese Empire by 1808 when King Dom Joao VI escaped from Napoleon's invasion of Portugal. Later, he established himself and his government in the city of Rio de Janeiro. He founded a royal library, a military academy, and medical and law schools. In his order on 16th December 1815, he designated the Portuguese sovereignty in the United Kingdom of Portugal, Brazil, and the Algarves, thus making Brazil coequal with Portugal.
The following four centuries saw continued exploitation of the country's essential resources such as gold and rubber, economic growth from large scale manufacturing of sugar & coffee, and Christianizing; exploitation of the natives continued at that time.
Brazil became an independent nation on September 7, 1822, but remained as an empire under the rule of Dom Pedro I and his son Dom Pedro II until 1889. It became an emerging international power because of military intervention after fall of the empire in 1894. The economic and political centers of the nation shifted even farther during the 18th and 19th centuries from the old sugar regions of the Northeast to the new coffee regions of the Southeast. Since then, democracy in Brazil was disturbed by coups and regimes until 1985. A new civil and democratic government was elected, and a new constitution was endorsed. Coffee dominated the economy, accounting for more than half of export earnings by the turn of the 20th century.
The 19th and 20th Century saw the second flow of immigration, mainly Italian, German, Spanish, Japanese, and Portuguese, adding to the set of circumstances that generated today's intricate and novel Brazilian culture and society.
In Jan. 2003, Luiz Inacio Lula da Silva, a former trade union leader and factory worker widely known by the name Lula, became Brazil's first working-class president. Lula pledged to increase social services and improve the lot of the poor. He also realized that a discrete nonsocialist program of fiscal severity was needed to protect the economy.
The president's first major parliamentary success was a plan to improve the country's debt-ridden pension system, which operated under an annual $20 billion deficit. Although public debt and inflation continued to be a problem in 2004, Brazil's economy exhibited signs of growth, and unemployment was down. Polls in August 2004 illustrated that the majority of Brazilians defended Lula's tough economic reformation efforts.
Jorge Paulo Lemann
Brazilian Real (BRL) is the official currency of Brazil. Central Bank of Brazil is the central bank of the country and the issuing authority as well, and it keeps a free-market economy.
Throughout Brazil’s history, different currencies came into existence because of the diverse economic problems that the country had suffered. From the mid-17th century until 1942, the Real was the single currency until a monetary reform withdrew it from circulation.
At the time it was known as “réis”, the apocope of the plural form “reais”, then the cruzeiro was imposed, which was divided into 100 centavos and remained in circulation until 1986. In that year the cruzado was established, in circulation until 1989, equaling 1,000 of the old cruzeiros and also divided into 100 cents. The Cruzeiro Real, equivalent to 1,000 cruzeiros, came back in 1993, until the country returned to the Brazilian Real, after many years of inflation.
The Real came back to stay, by the hand of Itamar Franco, President of the Republic at the time, in order to provide the country with a stable currency. Banknotes of Brazilian Reais were printed at the “Casa de la Moneda” in Rio de Janeiro, and 900 million coins were distributed, with the government investing ten million dollars to put this new currency in circulation.
In the years 1998 and 2010 new series were issued with new designs to improve the security of the banknotes and prevent counterfeiting.
|National Song||"Brazilian National Anthem"|
|GDP / GDP Rank||$3141.3 Billion USD|
|GDP Growth Rate||0.8 percent (2017)|
|GDP Per Captial||$15241.73 (PPP)|
UTC−2 to −5 (BRT))
UTC−2 to −5 (BRST) (Summer)
64.6% Roman Catholicism
8.0% No religion
President- Michel Temer
Vice President- Ana Arraes
|Website||Go to the web|
|Public Debt||78.3 percent of GDP|
|Unemployment Rate||11.5 percent|
|Labor Force (Occupation)||-|