Brazil jumps two positions and becomes the ninth economy in the world in 2023

projection

IMF estimates the country’s nominal GDP at US$2.13 trillion this year

With a forecast of 3.1% growth in the Gross Domestic Product (GDP) this year, Brazil will jump two positions and become the ninth economy in the world in 2023, the International Monetary Fund announced this Tuesday (19) ( IMF). According to the institution, the country is expected to end the year with a nominal GDP of US$2.13 trillion, surpassing Canada, with an estimated GDP of US$2.12 trillion.

Last year, Brazil was in 11th position. According to the IMF, by 2026, Brazil could rise one position and become the eighth largest economy on the planet, with an estimated GDP of US$2.476 trillion.

The estimates were released based on the World Economic Perspective report, released in October. At the time, the IMF estimated growth of 3.1% for Brazilian GDP this year, compared to an estimate of 2.1% in the previous report.

According to the IMF, the United States, China and Germany remained the largest economies in the world this year. The organization projects that the global economy will slow down this year, growing 3%, compared to 3.5% in 2022. For 2024, the IMF estimates global expansion of 2.9%.

For Brazil, the IMF projects growth of 1.5% next year. The projection is lower than that of the Organization for Economic Cooperation and Development (OECD), which predicts expansion of 1.8% for the Brazilian economy in 2024. The Ministry of Finance projects growth of 2.2%.

Check out the ranking of the ten largest economies in the world in 2023, according to IMF projections:

• 1. United States – US$26.95 trillion
• 2. China – US$17.7 trillion
• 3- Germany – US$4.43 trillion
• 4. Japan – US$4.23 trillion
• 5. India – US$3.73 trillion
• 6. United Kingdom – US$3.33 trillion
• 7. France – US$3.05 trillion
• 8. Italy – US$2.19 trillion
• 9. Brazil – US$ 2.13 trillion
• 10. Canada – US$2.12 trillion

Source: International Monetary Fund

Repercussions

On the social network X (formerly Twitter), President Luiz Inácio Lula da Silva celebrated the result with a joke: “You don’t know how much work it takes to be so lucky”, he wrote.

The chief minister of the Secretariat of Social Communication, Paulo Pimenta, also celebrated the IMF’s announcement by stating, on his social networks, that Brazil is “back in the top 10”.

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