Brazil returns to the group of the 10 largest economies in the world after rising GDP in 2023

growth

Growth left the country ahead of Canada, Russia, South Korea and Australia

The 2.9% growth in Gross Domestic Product (GDP) in 2023 placed Brazil back on the list of the 10 largest economies in the world.

The performance placed Brazil in 9th place among the 54 countries analyzed by Austin Rating, with a GDP of US$2.17 trillion last year, according to estimates from the International Monetary Fund (IMF).

The growth left the country ahead of Canada, Russia, South Korea and Australia.

Check out the list:

1. United States – US$ 26.94 trillion
2. China – US$ 17.70 trillion
3. Germany – US$4.42 trillion
4. Japan – US$4.23 trillion
5. India – US$ 3.73 trillion
6. United Kingdom – US$ 3.33 trillion
7. France – US$ 3.04 trillion
8. Italy – US$ 2.18 trillion
9. Brazil – US$ 2.17 tri
10. Canada – US$ 2.11 trillion
11. Russia – US$ 1.86 trillion
12. Mexico – US$ 1.81 trillion
13. South Korea – US$ 1.70 trillion
14. Australia – US$ 1.68 trillion
15. Spain – US$ 1.58 trillion

The result represents Brazil’s return among the 10 largest economies in the world after leaving the group in 2020, when it fell to 12th position.

In 2022, Brazil was in 11th place, with a GDP of US$1.91 trillion.

The survey goes back to 1995. Since then, the country has been among the 10 largest economies in the world for 20 years.

The best performances were recorded in 1995 and between 2010 and 2014, when Brazil was in 7th place in the ranking.

The worst was in 2003, with 14th place.

Agro pulls GDP

The Brazilian economy grew 2.9% in 2023, IBGE announced this Friday (1st). In the fourth quarter of the year, the Gross Domestic Product (GDP) was stable in relation to the third.

The result was above market expectations, which expected an increase of 2.2% in the year, according to a Reuters survey. The government expected an increase of 3%, in line with the growth recorded in 2022.

Industry and services also grew, 1.6% and 2.4%, respectively.

*With information from CNN Brasil

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