Brazil economy set to overtake UK in 2011
Posted by By George Paine at 2 November, at 12 : 50 PM Print
As the Economist Intelligence Unit (EIU) arrives in São Paulo for their conference on the future of the Brazilian economy this week, they have just released new research indicating that Brazil is about to replace the UK as the world’s sixth largest economy.
Brazil’s GDP for the full year 2011 is expected to hit $2.44tr compared with $2.43tr for the UK according to the latest monthly forecast from the EIU – with just two months of the year left to run.
Last year Brazil overtook Italy and is now storming up the world economic rankings, with the UK about to become the latest victim of Brazil’s growth. The EIU does predict some jockeying for position, suggesting that India will soon overtake Brazil in sixth place, but that Brazil will return to this position when it overtakes the economy of France in approximately 2014.
Looking further out, the EIU predicts that before the end of this decade Brazil will overtake Germany and will therefore be bigger than any European economy, making a prediction for the top five economic superpowers of 2020 to be China, the US, India, Japan, then Brazil.
Food for thought for European leaders with their fingers hovering over the economic self-destruct button at present.
Photo by Luc B licensed under Creative Commons
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State of Brazil IT: What does Brazil IT need? | IT Decisions, 1 year ago
[...] latest data from the Economist Intelligence Unit (EIU) predicts that Brazil is about to overtake the United Kingdom to become the world’s sixth largest economy – measured by GDP. This is an historic milestone [...]
Rod. V., 1 year ago
The economist and EIU publish on Nov 12th 2009 “Brazil takes off”… on Oct 30th 2011 publish “Brazil become the sixth largest economy in 2011, ahead of the United Kingdom”
If you compare the data, you can see that the forecasts are happenning faster than predicted due to the world crisis
In my newest projections the scenario for 2020 will be: China; India; USA; Brazil, changing completely the world economic forces in this decade.
Rod. V.
Mark Hillary, 1 year ago
Very interesting Rod, and you are right about things moving faster. When the BRICs idea was created almost a decade ago, it was suggested that the BRICs countries would need until about 2050 to become dominant… not just another ten years
Robert, 1 year ago
and watch it fall in 2012 and take Argentina along with it. Brazil is being setup for a huge fall via its investments and unregulated growth. I would pull all money out of Brazil before years end.
Mark Hillary, 1 year ago
Most economists would beg to differ with you – with very low mortgage debt in Brazil there is nothing like the issue the USA faced in 2007/08
Dick Stas, 1 year ago
As far as I know, Brazil already surpassed the French economy in 2010.
Mark Hillary, 1 year ago
Not according to what the EIU was telling us. I guess there are different ways of measuring GDP though… in any case, France, the UK, and Brazil are all now very close.