Brazil, 5th Biggest Economy by 2015, But Far from Being Developed, Concedes Minister

Industry of Brazil Brazil’s Finance minister, Guido Mantega, talking to reporters said that Brazil is expected to overtake France and become the fifth largest economy by 2015. According to Mantega, the prediction of the International Monetary Fund (IMF) is that Brazil reaches the position in 2015.

However, in his view, this can happen “a while before” because of the difficulties that European countries must face in coming years due to the financial crisis.
“Our growth rate is twice that of European countries. Therefore, it is inevitable that we surpass France, and who knows, maybe Germany, if the country doesn’t improve its performance,” said the minister.

For him, economic growth in Europe over the next year should be about 2% and in Brazil, from 4% to 4.5%.

Brazil has been “consolidating itself among the nations that grow most for some time,” said Mantega, commenting a study disclosed by the Center for Economics and Business Research (CEBR), which placed Brazil as the sixth main economy in the world, ahead of the United Kingdom.

“This is something that has come to stay, as we observe that several countries in the world are in a crisis and will continue growing slowly, as is the case with the European nations. [We] have become the sixth economy in the world on overtaking the United Kingdom and have chances to continue overtaking other European nations, which are going to continue slow for years to come,” said the minister.

Mantega also added that the challenges for Brazil are to maintain the dynamism and “face the problems that this crisis [in Europe] puts us in”. Among the problems, the minister mentioned the lack of international credit and the growth of “predatory competition”.

According to the minister, Brazil may reach 2015 as the fifth largest economy in the world, if the economy continues growing. “We may expand our growth average and exceed 4% in coming years,” he said.

To Mantega, despite now being the sixth economy in the world, Brazil cannot yet be considered a developed economy. “We must improve the standard of living. We must also improve health, education and provide greater chances for people to buy their own homes. We still face many challenges to reach the European standard.”

The latest World Economic League Table also shows Asian countries moving up and European countries falling back.
The CEBR also predicts that the UK economy would overtake France by 2016. It also says the Euro zone economy would shrink 0.6% in 2012 “if the Euro problem is solved” or 2% if it is not.

CEBR chief executive Douglas McWilliams told BBC Radio 4’s Today program that Brazil overtaking the UK was part of a growing trend. “I think it’s part of the big economic change, where not only are we seeing a shift from the west to the east, but we’re also seeing that countries that produce vital commodities – food and energy and things like that – are doing very well and they’re gradually climbing up the economic league table,” he said.

According to the CEBR and the Brazilian Ministry of Development, Industry and Export, Brazil’s GDP estimate for 2011 is 2.52 trillion dollars. Exports in 2010 totaled 201.9 billion and imports 181.6 billion. Main exports: manufactured goods, iron ore, coffee, oranges and other agricultural produce and the main trading partners, China, US and Argentina.
A report based on International Monetary Fund data published earlier this year also said the Brazilian economy would overtake the UK in 2011. Brazil has a population of about 200 million, more than three times the population of the UK.

Brazil’s economy grew by 7.5% last year, but the government has cut its growth forecast for 2011 to below 3.5% after the economy ground to a halt in the third quarter, with analysts blaming the country’s high interest rates and the worsening situation in the Euro zone.

And although Brazil currently sells more to China than it imports, Brazilian manufacturers have complained that their industries are being affected by cheap mass-produced goods from the Asian giant.

The CEBR also said that Russia moved up one spot in its league table to ninth in 2011, and predicted that it would rise to fourth spot by 2020. It predicted that India, the world’s 10th biggest economy in 2011, would become the fifth largest by 2020.
And it said European countries would drop down the table, with Germany falling from fourth in 2011 to seventh in 2020, the UK from seventh to eighth, and France from fifth to ninth.
The World Economic League Table shows the US ranked 1 in 2011, followed by China, Japan, Germany, France, Brazil, UK, Italy, Russia and India. However for 2020 the forecast is as follows: US leads followed by China, Japan, Russia, India, Brazil, Germany, UK, France and Italy.



  • Show Comments (13)

  • americanos numero uno

    your anti-americanism blinds you and deludes your brain cells.
    you are an idiot .an absolute idiot …you actually think the united states would need to invade russia .the united states has the capabilitie of annihlating the entire russian continent without setting a foot on it .now wiki that!!!!…moron..

  • Luiz Andrade da Silva

    Maybe the military capability of Russia is outdated and inferior to that of the United States, but it still has power enough to destroy your country (actually the whole world) many times. I give here a link to a wikipedia article that shows that Russia has more nuclear warheads than the United States: Even, if you deny the figures given in the article, you cannot deny the fact that Russia has MANY nuclear warheads. Even if they were fewer than those of the US, you know, that when it comes to nuclear weapons, it doesn’t matter if you have 1.000 or 2.000, if you’re able to destroy the world 10 or 20 times, or even one time. The power is the same. Can you imagine what would happen if your country invaded Russia? Given the difficulties your military are having in Afghanistan, a poor, small country, try to imagine what facing Russia would be like. Don’t even think about it. It would be a nightmare.

  • americanos numero uno

    duh silva
    your infatuation with china and russia is naive and only soothes your anti-american envy and jealousy .listen,now closely .Russia is a politically unstable country (a failed former communist state)its military capabilities are old outdated and inferior.russia is losing its population and its former territories.russia is in decline !. china just bought its first and only aircraft carrier ( an old russian carrier ) .china has missles pointed at the usa you say? and from what vantage point ? mainland china? very funny !! our navy and carrier fleets are just off their coast in the Taiwan straits our allies Japan and Taiwan and south Korea and Austrailer are nearby .our debt to china will be addressed with sweeping changes to our policies with them ie:import duties ,currency changes,and new trade agreements that favor american companies and products whether they like it or not.we are in the midst of a presidential election and the major issues are illegal immigration,china,defence,iran,no korea,latin america and drug trafficking.the united states of america has overcome great obstacles in its history and has met those challenges victoriously to emerge as the world,s most powerfull nation in the history of the world .we are the worlds sole superpower .since you are impressed with china and russia perhaps you should open up your country to immigration of millions of chinese and russians who are clamoring to get out of their paradises.

  • Luiz Andrade da Silva

    hey stupid, you said that you have your weapons pointed at Russia and China. Ok, the USA has missiles that could theoretically reach targets in those countries, but, remember they also have missiles pointed at you. What I meant was that the United States would never dare to invade strong countries. Not only Russia or China, but even North Korea or Iran or Pakistan, for example. Conveniently, you haven’t made any comments on my remarks about the financial situation of the US. Can you deny that your country is highly indebted? Do you think that a real superpower can owe so much? Do you think the Chinese would continue to lend you money to wage war against them? Don’t be silly!

  • americanos numero uno

    such idiocy and jealousy from a little worm
    hey stupido,,,our arms (weapons) are pointed at china and Russia. now you shut up .we have a military presence in over 140 countries in the world our naval fleets are encircling the worlds oceans 24/7.our submarine attack fleets are right under your nose .our missle systems and inteligence systems are encircling the entire globe in outerspace .we can take a photo of you taking a piss in your outhouse behind your chicken shut up little donkey cart jockey your making an arse of yourself.

  • Luiz Andrade da Silva

    Americanos numero uno, you have no reason to be proud of. Have you noticed that you always mention American military capability as your source of pride? This is no coincidence: military equipment is basically what the US still produces. American people, and the governments they have been electing, are so stupid that they are managing to transform the US, from country that used to manufacture everything, into a country that only makes weapons. You let all your manufacturing be exported to other countries, just to satisfy the greed of your capitalists. That is what your blind faith in the “free market” has led you: a broken, indebted country that only resorts to military power. Do you feel proud to know that your country is great at killing innocent people to rob their riches, especially petroleum? By the way, I might add that the US is coward. It only attacks relatively weak countries. Do you think that your country would ever point its arms at Russia or China, for example? Besides, you don’t have the money to wage wars. The stupid war your government has recently fought with Irak (with the approval of the majority of you, stupid Americans) has drained the finances of your country very badly, almost to the point of bankruptcy. Can you imagine what would happen if your stupid “cowboy” country were to engage in a war against the rest of the world? So, please shut up and recognize that the United States is not this super powerful country that you want to believe, but just another country in the world. Stop trying to bully the rest of the world! We (the rest of the world) are getting sick and tired of this behavior.

  • americanos numero uno

    happy new year tin -pot monkees
    perhaps 2012 will give us more anti-american jealousy and envy propaganda from latin america,s goofy little marxist/leftist characters from their chemo rooms as the cancerous spread of latin america,s marxism/socialism grips these bad actors by the throat breasts and the balls … happy new year !!!.

  • americanos numero uno

    our hearts are bursting with pride accomplishment and leadership . its like star wars .!!.with the stars and stripes of the worlds most beautifull banner the american flag
    each day brings exciting and brilliant american ingenuity and superior technologies. in fact the finest and deadliest military in the world is this “united states of america”.today it was announced once again america will implement design and superior technologies by modernizing its long range missle systems which can annilhate and destroy any offensive and often inferior missles launched by Iran and N.Korea.This is of course in addition to our far superior long range missle shields with its capabilities covering all of eastern europe all the way east to the caucases in (russia).Such beautifull and effective systems manned from our interior is very comforting and a source of trmendous pride to americans and allies and friennds of america world wide .america,s stealth ,pinpoint accuracy and precision systems are the envy of the world and the pride of the worlds finest armed forces the world has ever seen .

  • usa

    about to be?, is getting?, bound to be? may become,? allmost,? nearly?, BUT NOT “IS” !!!! the 5th largest anything!!..
    brazil is ridiculous !!!.brazil is not leading the world in anything but crime, corruption, and disease. latin america is sinking into the dump heap of socialism/marxism !!!. chavez!! morales !! castro!! rousseff!! lula !! etc.,etc., you idiots !!!.you march to your graves blindfolded!!.you suck on the tit of propaganda !.and you believe the lies your controlled media serves you .your a bananna republic with no infrastructure ,no military,and no middle class.180 million people and an average education level of an 8th grader (illiterates)poors and a pathetic education system , a population of unskilled .your a third world dump 3 hundred years behind .the only people in brazil making a windfall are a handfull of wealthy landowners selling commodities to china .. the united states of america will remain the worlds sole superpower and is the worlds largest economy .the usa spends 44times more on its military and ultra modern weapons systems then any other country in the world.more than china, russia, and india combined .

  • Luiz Andrade da Silva

    Face reality
    Americanos numero uno, you sound ridiculous! Face reality, Brazil is getting very powerful. Brazil has already overtaken the United Kingdom to become the 6th biggest economy, and the studies that said Brazil is bound to become the fifth largest economy by 2015, as the article pointed out, has not come from the Brazilian government or any other institution you may be suspiscious of. It comes from the IMF, a very respected institution, especially for people like you. So, stop making a fool out of yourself! As far as remittances from people living abroad goes, in the case of Brazil, they are totally irrelevant, given the size and complexity of the Brazilian 2.5 TRILLION dollars economy. Brazil is no banana republic like some countries whose economy is so small that the money sent back home by some of its citizens living in the United States make up a sizable portion of its GNP. In the case of Brazil, how do you think such a thing would be possible? In order to make any difference in such a big GNP, Brazil would have to have MILLIONS of people living in the United States and the money sent by them would drain the American economy to the point of imploding it! If you want to humiliate another country, try Guatemala, Nicaragua or El Salvador, for example. Brazil doesn’t lend itself to this kind of thing. Brazil is big and powerful and is not the United States backyard. Grow up!

  • americanos numero ZERO

    UZA sinking fast
    First economy, are you kidding?

    usa owns China over 8 trillion dolars… Uncle sam is writing checks that his body can not cash it!


    God Mess the UZA, Land of the Fee and Home of the Slave!


  • americanos numero uno

    5th largest what??????…
    brazil ??? 5th largest economy????? this is too funny !!!..brazil,s biggest import is the remittances it gets from its illegals in the usa and europe !!!!…Brazil keeps up the bull slinging crap about being a rising economy .its all a lie …brazil sells its commodities to china which enriches a few wealthy landowners and china then floods brazil with cheap chinese goods to put brazil,s poors in counterfeit american designer clothes..mean while there is still no brazil middle class !!!!….

  • costinha


    Since 1989 Trying to Bash Brazil

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