Brazil returns to the top 10 in the ranking of the world’s largest economies – Austin Ranking

RIO DE JANEIRO, BRAZIL – According to Austin Rating’s rankings, Brazil is once again among the world’s 10 largest economies. The country has risen from 13th place in Q4 2021 to 10th place in March 2022. Click here for the full text of the survey.

Brazil’s nominal GDP (gross domestic product) reached US$1.83 trillion in the first quarter of this year. It surpassed Russia (US$1.83 trillion), South Korea (US$1.80 trillion), and Australia (US$1.75 trillion). In 2020, the country dropped out of the top 10.

Driven by the services sector, Brazilian economic activity increased by 1% in Q1 2022 compared to the previous quarter (October to December 2021). According to the Brazilian Institute of Geography and Statistics (IBGE), the Brazilian economy has reached its highest level of activity since the fourth quarter of 2014.

The largest economy in the world is the United States, with a nominal GDP of US$25.45 trillion. The top three countries are China, with US$19.91 trillion, and Japan (US$4.912 trillion). India overtook the United Kingdom, and Canada overtook Italy.

The world’s 15 largest economies have a nominal GDP of US$78.94 trillion or 76.1% of total world output (US$103.72 trillion).

Brazil ranked 9th out of 32 countries for best GDP growth in the first quarter of 2022 compared to the last quarter of 2021. It was behind Peru, China, Turkey, and Mexico.

The country’s economy grew faster than Colombia, Germany, France, Italy, and the United States.

With information from Poder360

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