RIO DE JANEIRO, BRAZIL – An end of the commodities cycle, an impeachment, a recession, and a pandemic – all combined so that Brazil ended the decade 2011-2020 losing eight positions in the ranking of the world’s largest GDP per capita, and saw its advantage over other emerging economies melt away.
It reflects another “lost decade” in the country, experts point out, and that may repeat itself if Brazil not only fails to deal with the short-medium term pandemic issue but also ignores its endemic problems.
Brazil, which began the previous decade in 77th position among the global GDPs per capita, measured using purchasing power parity (PPP), slid to 85th place in 2020, according to data from the International Monetary Fund (IMF) published last week.
The report provides information from more than 190 countries.
In 2020, Brazil had a GDP per capita (using PPP) of US$14,140, against US$15,394 in 2011. That year, Brazil was ahead of China, which ranked 110th, with US$9,627.
The Asian giant, however, moved up to 77th in 2020, with US$16,297. GDP per capita measures the relationship between a country’s Gross Domestic Product and its population, while the PPP calculation weights the different costs of living among nations.
In 2020, the highest GDP per capita in the world was Luxembourg’s: US$111,900.
Source: Valor Investe