Now in 12th place, the country, which ranked 9th in 2019, was surpassed by Canada, Korea and Russia
Even leaving the group of the ten largest economies in the world, Brazil grew more in 2020 compared to large countries that make up the list. Now in 12th place, Brazil, which ranked 9th in 2019, was surpassed by Canada, Korea and Russia. For 2021, the risk rating agency Austin Rating estimates that Brazil may fall to 14th position – being surpassed also by the Australia and Spain. The agency’s economist, Alex Agostini, attributes the devaluation of the real against the dollar as a determining factor for this scenario.
“We’ve recently seen almost weekly readjustments in fuel, the price of food, inputs and raw materials in the industry, IGP-M around 28%. All of this makes Brazil diminish its growth potential, the START it is growing and its currency has depreciated. The combination of these factors has been causing Brazil to fall more and more in this ranking of the largest economies. ” An Austin Rating ranking shows Brazil in 21st position in a comparison between the 50 economies with the best performance in the pandemic.
Even behind small countries like Lithuania, Sweden and Romania, Brazilian GDP fared better than most wealthier nations – among them Japan, Germany, France, Canada, Italy and France. Of the first ten, only China and the United States surpassed Brazil. The biggest falls in 2020 were registered by Peru, Spain and the United Kingdom, which also belongs to the richest group. Only Taiwan, China and Turkey had growth compared to 2019.
* With information from reporter Letícia Santini