| Due to better governance practices and a commodity boom, Brazil's economy has enjoyed incredible growth over the past 20 years. Brazil is now the largest economy in Latin America and the sixth or seventh largest economy depending upon the metric used.
On the other hand, while Brazil's GDP per capita has improved, it still ranks at a relatively low 64th in the world - meaning that it is a large economy, but not an especially wealthy one yet (at least not uniformly so). While Brazil has made a concerted effort to build up its manufacturing sector (and reduce the risk of being trapped as a commodity-driven economy), minerals, energy and agriculture are still very significant to the Brazilian economy, as well as the larger global economy............................................Full Article: Source
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