Economic climate
Brazil is the largest economy in Latin America, and is characterised by large agricultural, mining, manufacturing and services sectors.
For the latest key economic indicators and statistics please see the Department of Foreign Affairs and Trade country economic fact sheet.
Brazil has undergone a significant move towards modernisation and a reduced role for the government in the economy. This change was driven principally by a more liberal trade regime, deregulation and privatisation of state companies.
São Paulo is the most developed state financially and industrially, and accounts for 45 per cent of Brazil’s GDP. Following São Paulo, the next most developed states in Brazil are also in the south and southeast regions, and include: Rio Grande do Sul, Santa Catarina, Paraná, Rio de Janeiro, Minas Gerais.
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