One Of The Reasons By Brazil’S Economy Is An Important

Good Essays

One of the reasons by Brazil’s economy is an important player in the world today is its size. They are the world’s fifth largest country by size and the ninth largest by nominal GDP. Other comparisons include the fact that they represent the largest economy in Latin America and second largest in the Americas. Because imports and exports are a significant component of Brazil’s GDP, at 27%, trade represents a key factor in Brazil’s economy ("Brazil Economy: Facts, Population, GDP, Inflation, Business, Trade, Corruption," n.d.). Although the government interference and a system that is characterized as inefficient and a challenge for market entry, Brazil continues to work toward an improving economic and social environment for its people. In …show more content…

Private capital investments have slowed, Russia’s market environment is weakened by the presence of a continued state-run model, and a significant lever within the Russian economy remains oil (Kudrin & Gurvich, 2015, p.54). In 2015, Russia was a key exporter of oil to both Europe and Asia, and nearly 50% of the country’s revenue comes from oil and gas. That type of dependence, when oil prices decline can have a massive negative effect on the economy of a nation (Andrianova & Khrennikova, 2016).
The economy of India is largely one that emphasizes service as the largest sector. Sixth-largest by nominal GDP and the third-largest by purchasing power parity, another key area of the Indian economy is pharmaceuticals “which were the fastest growing among the top 10 export categories, up 51.7% for the 5-year period starting in 2011” (Workman, 2016). Of the five countries in BRICS, India is lowest in GDP per capita. India continues to be an attractive foreign direct investment nation, led primarily by economic reforms that have made entry into the country’s marketplace easier (Esposito, Kapoor, & Mathur, 2016). Also significant in the economy of India is its size. This causes significant differences across the nation both in terms of how the different states within the country experience the economic growth, effecting both access to products and financial capabilities within the market. Not unlike other

Get Access
Get Access