Politics

Brazil to become world's sixth largest economy

latam_stocks_2011_09_27.jpg

The West's gone down, but LatAm keeps rising.

Credit:

Yasuyoshi Chiba

By the end of the year, Brazil will have the world's sixth largest economy.

With a GDP of $2.44 trillion, it will outrank the United Kingdom for the first time, according to a report was published by Folha de Sao Paulo based on data from the IMF, Economist Intelligence Unit and Business Monitor International.

Brazil could overtake all European economies, including Germany's, by 2020, said the report.

“The fact that the Brazilian economy is overtaking that of the developed countries reflects the effects of the access of large segments of the poor population into the middle class and the consumer market”, said Robert Wood, a U.S. analyst, according to MercoPress.

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