IBOV 170,096 ▼ 0.14% IPSA 10,303 ▼ 0.01% IPC MEX 66,196 ▼ 1.78% MERVAL 3,132,353 ▼ 1.33% COLCAP 2,228.19 ▼ 0.48% BVL PERÚ 34,937.73 ▲ 0.29% USD/BRL 5.13 ▲ 1.37% USD/MXN 17.47 ▲ 1.07% USD/CLP 913.33 ▲ 2.03% USD/COP 3,598 ▲ 0.64% USD/PEN 3.44 ▲ 1.22% USD/ARS 1,441 ▲ 0.28% USD/UYU 40.26 ▲ 1.12% USD/PYG 6,083 ▲ 1.29% USD/BOB 6.85 ▲ 1.30% USD/DOP 58.21 ▲ 0.88% USD/CRC 458.41 ▲ 2.84% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.64 ▲ 0.41% USD/NIO 36.62 ▲ 0.31% USD/VES 561.88 ▼ 0.13% USD/PAB 1.00 ▲ 2.22% USD/BZD 2.00 ▲ 1.65% USD/JMD 156.99 ▲ 0.62% USD/TTD 6.66 ▲ 0.18% EUR/BRL 5.92 ▲ 0.53% BRENT 93.82 ▼ 1.27% WTI 91.14 ▼ 2.04% IRON ORE 161.91 — — COPPER 6.30 ▼ 3.26% GOLD 4,378 ▼ 2.19% SILVER 69.11 ▼ 6.33% SOY 1,128 ▼ 0.18% CORN 419.25 ▼ 1.24% WHEAT 582.00 ▲ 0.04% COFFEE 247.55 ▲ 0.16% SUGAR 14.27 — 0.00% ORANGE JUICE 165.95 ▼ 1.45% COTTON 74.70 ▼ 0.25% COCOA 3,753 ▼ 5.35% BEEF 243.80 ▼ 2.16% CATTLE 356.20 ▲ 0.80% LITHIUM 79.75 ▼ 4.24% PETR4 41.16 ▼ 0.22% VALE3 79.49 ▼ 2.81% ITUB4 39.04 ▲ 0.83% BBDC4 17.49 ▲ 0.69% ABEV3 16.16 ▲ 0.56% BBAS3 19.44 ▼ 0.46% B3SA3 15.48 ▼ 0.26% WEGE3 41.93 ▲ 0.36% PRIO3 61.95 ▼ 1.02% SUZB3 42.12 ▲ 2.18% RENT3 40.69 ▲ 0.62% AZZA3 17.39 ▲ 0.06% CSAN3 3.51 ▼ 1.96% RAIZ4 0.40 ▲ 2.56% PCAR3 1.56 ▲ 1.30% GMAT3 4.18 ▼ 0.48% PSSA3 47.87 ▼ 0.60% CVCB3 1.46 ▼ 1.35% POSI3 3.66 ▼ 2.40% SLCE3 14.98 — 0.00% NATU3 9.77 ▼ 0.31% BRKM5 9.22 ▼ 2.23% RANI3 7.88 ▼ 0.25% CSNA3 6.15 ▼ 7.93% CMIN3 4.43 ▼ 1.56% USIM5 11.55 ▲ 0.79% GGBR4 23.72 ▼ 1.70% ENEV3 24.25 ▲ 0.08% NEOE3 33.80 — 0.00% CPFE3 42.37 ▼ 2.15% CMIG4 10.88 ▲ 0.18% EQTL3 39.32 ▼ 1.23% LREN3 15.01 ▲ 2.53% VIVT3 33.17 ▼ 1.72% RAIL3 13.94 ▲ 0.36% KLABIN 17.05 ▲ 1.73% RAIA DROGASIL 17.50 ▼ 0.06% RDOR3 33.21 ▲ 0.30% HAPV3 11.26 ▲ 0.36% FLRY3 14.89 ▲ 1.29% SMTO3 17.06 ▼ 1.39% UGPA3 25.08 ▲ 0.64% VBBR3 29.37 ▼ 0.37% BBSE3 35.17 ▲ 0.37% BPAC11 50.80 ▲ 0.18% CURY3 29.39 ▼ 0.20% AERI3 2.28 ▼ 1.30% VIVARA 20.50 — 0.00% COMPASS 25.49 ▼ 1.16% VAMOS 2.96 ▲ 0.68% SANB11 26.83 ▲ 0.41% ASAI3 8.76 ▼ 0.34% SBSP3 27.48 ▲ 0.92% WALMEX 51.41 ▼ 0.16% GMEXICO 200.91 ▼ 4.89% FEMSA 215.24 ▲ 1.80% CEMEX 21.92 ▼ 2.32% GFNORTE 178.00 ▼ 0.82% BIMBO 56.17 ▼ 1.63% TELEVISA 9.20 ▼ 1.39% AMX 21.87 ▲ 0.05% GAP 405.73 ▼ 1.78% ASUR 287.88 ▼ 1.68% OMA 214.74 ▼ 0.29% KOF 184.81 ▲ 0.14% GRUMA 290.05 ▼ 0.27% KIMBER 37.40 ▼ 0.64% SQM-B 70,000 ▲ 0.50% COPEC 6,067 ▼ 0.79% BSANTANDER 68.29 ▲ 0.26% FALABELLA 5,518 ▼ 1.00% ENELAM 76.51 ▼ 0.07% CENCOSUD 2,148 ▼ 0.58% CMPC 1,050 — 0.00% BANCO CHILE 165.98 ▲ 0.29% LATAM AIR 22.16 ▼ 0.45% YPF 82,700 ▼ 1.37% GGAL 7,230 ▼ 1.50% PAMPA 5,075 ▼ 1.17% TXAR 697.50 ▼ 0.29% ALUAR 989.50 ▼ 1.93% TGS 9,130 ▼ 1.24% CEPU 2,257 ▼ 0.88% MIRGOR 16,600 ▼ 2.35% COME 45.76 ▼ 3.28% LOMA NEGRA 3,405 ▼ 1.52% BYMA 290.75 ▼ 0.94% TELECOM ARG 4,088 ▲ 1.81% ECOPETROL 15.29 ▼ 2.24% BANCOLOMBIA 71.01 ▼ 1.83% GRUPO AVAL 4.83 ▼ 1.43% CREDICORP 310.94 ▼ 4.77% SOUTHERN COPPER 176.16 ▼ 9.24% BUENAVENTURA 31.15 ▼ 9.10% MERCADOLIBRE 1,629 ▼ 0.35% NUBANK 12.09 ▼ 0.29% XP 15.61 ▼ 0.19% PAGSEGURO 8.67 ▼ 1.59% STONE 10.62 ▼ 1.30% GLOBANT 38.17 ▼ 3.58% TECNOGLASS 42.37 ▼ 0.87% GAP AIRPORT 232.93 ▼ 2.80% ASUR 287.88 ▼ 1.68% OMA AIRPORT 98.60 ▼ 1.17% AMX ADR 25.13 ▼ 0.83% FEMSA ADR 123.50 ▲ 0.79% CEMEX ADR 12.56 ▼ 2.98% PETROBRAS ADR 17.95 ▼ 0.64% VALE ADR 15.46 ▼ 2.00% ITAU ADR 7.58 ▼ 0.76% SANTANDER BR 5.26 ▼ 1.78% AMBEV ADR 3.13 ▲ 0.48% CSN 1.22 ▼ 6.16% GERDAU 4.63 ▼ 1.70% LATAM ADR 48.58 ▼ 2.28% BTC 60,180 ▼ 5.68% ETH 1,576 ▼ 10.93% SOL 64.00 ▼ 6.87% XRP 1.09 ▼ 6.23% BNB 575.40 ▼ 4.66% ADA 0.16 ▼ 12.11% DOGE 0.08 ▼ 8.27% AVAX 6.89 ▼ 10.38% LINK 7.27 ▼ 9.12% DOT 0.95 ▼ 8.69% LTC 42.86 ▼ 5.91% BCH 213.87 ▼ 12.77% TRX 0.32 ▼ 3.19% XLM 0.19 ▼ 7.14% HBAR 0.08 ▼ 5.72% NEAR 1.91 ▼ 12.82% ATOM 1.68 ▼ 6.96% AAVE 60.61 ▼ 14.82% SELIC 14.50% EMBRAER 73.98 ▲ 6.19% EMBRAER ADR 57.58 ▲ 1.89% JBS 12.10 ▼ 0.94% JBS BDR 61.92 ▲ 3.37% MBRF3 15.76 ▼ 0.13% MBRFY 3.12 ▼ 1.27% INTER 5.74 ▼ 0.43% IBOV 170,096 ▼ 0.14% IPSA 10,303 ▼ 0.01% IPC MEX 66,196 ▼ 1.78% MERVAL 3,132,353 ▼ 1.33% COLCAP 2,228.19 ▼ 0.48% BVL PERÚ 34,937.73 ▲ 0.29% USD/BRL 5.13 ▲ 1.37% USD/MXN 17.47 ▲ 1.07% USD/CLP 913.33 ▲ 2.03% USD/COP 3,598 ▲ 0.64% USD/PEN 3.44 ▲ 1.22% USD/ARS 1,441 ▲ 0.28% USD/UYU 40.26 ▲ 1.12% USD/PYG 6,083 ▲ 1.29% USD/BOB 6.85 ▲ 1.30% USD/DOP 58.21 ▲ 0.88% USD/CRC 458.41 ▲ 2.84% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.64 ▲ 0.41% USD/NIO 36.62 ▲ 0.31% USD/VES 561.88 ▼ 0.13% USD/PAB 1.00 ▲ 2.22% USD/BZD 2.00 ▲ 1.65% USD/JMD 156.99 ▲ 0.62% USD/TTD 6.66 ▲ 0.18% EUR/BRL 5.92 ▲ 0.53% BRENT 93.82 ▼ 1.27% WTI 91.14 ▼ 2.04% IRON ORE 161.91 — — COPPER 6.30 ▼ 3.26% GOLD 4,378 ▼ 2.19% SILVER 69.11 ▼ 6.33% SOY 1,128 ▼ 0.18% CORN 419.25 ▼ 1.24% WHEAT 582.00 ▲ 0.04% COFFEE 247.55 ▲ 0.16% SUGAR 14.27 — 0.00% ORANGE JUICE 165.95 ▼ 1.45% COTTON 74.70 ▼ 0.25% COCOA 3,753 ▼ 5.35% BEEF 243.80 ▼ 2.16% CATTLE 356.20 ▲ 0.80% LITHIUM 79.75 ▼ 4.24% PETR4 41.16 ▼ 0.22% VALE3 79.49 ▼ 2.81% ITUB4 39.04 ▲ 0.83% BBDC4 17.49 ▲ 0.69% ABEV3 16.16 ▲ 0.56% BBAS3 19.44 ▼ 0.46% B3SA3 15.48 ▼ 0.26% WEGE3 41.93 ▲ 0.36% PRIO3 61.95 ▼ 1.02% SUZB3 42.12 ▲ 2.18% RENT3 40.69 ▲ 0.62% AZZA3 17.39 ▲ 0.06% CSAN3 3.51 ▼ 1.96% RAIZ4 0.40 ▲ 2.56% PCAR3 1.56 ▲ 1.30% GMAT3 4.18 ▼ 0.48% PSSA3 47.87 ▼ 0.60% CVCB3 1.46 ▼ 1.35% POSI3 3.66 ▼ 2.40% SLCE3 14.98 — 0.00% NATU3 9.77 ▼ 0.31% BRKM5 9.22 ▼ 2.23% RANI3 7.88 ▼ 0.25% CSNA3 6.15 ▼ 7.93% CMIN3 4.43 ▼ 1.56% USIM5 11.55 ▲ 0.79% GGBR4 23.72 ▼ 1.70% ENEV3 24.25 ▲ 0.08% NEOE3 33.80 — 0.00% CPFE3 42.37 ▼ 2.15% CMIG4 10.88 ▲ 0.18% EQTL3 39.32 ▼ 1.23% LREN3 15.01 ▲ 2.53% VIVT3 33.17 ▼ 1.72% RAIL3 13.94 ▲ 0.36% KLABIN 17.05 ▲ 1.73% RAIA DROGASIL 17.50 ▼ 0.06% RDOR3 33.21 ▲ 0.30% HAPV3 11.26 ▲ 0.36% FLRY3 14.89 ▲ 1.29% SMTO3 17.06 ▼ 1.39% UGPA3 25.08 ▲ 0.64% VBBR3 29.37 ▼ 0.37% BBSE3 35.17 ▲ 0.37% BPAC11 50.80 ▲ 0.18% CURY3 29.39 ▼ 0.20% AERI3 2.28 ▼ 1.30% VIVARA 20.50 — 0.00% COMPASS 25.49 ▼ 1.16% VAMOS 2.96 ▲ 0.68% SANB11 26.83 ▲ 0.41% ASAI3 8.76 ▼ 0.34% SBSP3 27.48 ▲ 0.92% WALMEX 51.41 ▼ 0.16% GMEXICO 200.91 ▼ 4.89% FEMSA 215.24 ▲ 1.80% CEMEX 21.92 ▼ 2.32% GFNORTE 178.00 ▼ 0.82% BIMBO 56.17 ▼ 1.63% TELEVISA 9.20 ▼ 1.39% AMX 21.87 ▲ 0.05% GAP 405.73 ▼ 1.78% ASUR 287.88 ▼ 1.68% OMA 214.74 ▼ 0.29% KOF 184.81 ▲ 0.14% GRUMA 290.05 ▼ 0.27% KIMBER 37.40 ▼ 0.64% SQM-B 70,000 ▲ 0.50% COPEC 6,067 ▼ 0.79% BSANTANDER 68.29 ▲ 0.26% FALABELLA 5,518 ▼ 1.00% ENELAM 76.51 ▼ 0.07% CENCOSUD 2,148 ▼ 0.58% CMPC 1,050 — 0.00% BANCO CHILE 165.98 ▲ 0.29% LATAM AIR 22.16 ▼ 0.45% YPF 82,700 ▼ 1.37% GGAL 7,230 ▼ 1.50% PAMPA 5,075 ▼ 1.17% TXAR 697.50 ▼ 0.29% ALUAR 989.50 ▼ 1.93% TGS 9,130 ▼ 1.24% CEPU 2,257 ▼ 0.88% MIRGOR 16,600 ▼ 2.35% COME 45.76 ▼ 3.28% LOMA NEGRA 3,405 ▼ 1.52% BYMA 290.75 ▼ 0.94% TELECOM ARG 4,088 ▲ 1.81% ECOPETROL 15.29 ▼ 2.24% BANCOLOMBIA 71.01 ▼ 1.83% GRUPO AVAL 4.83 ▼ 1.43% CREDICORP 310.94 ▼ 4.77% SOUTHERN COPPER 176.16 ▼ 9.24% BUENAVENTURA 31.15 ▼ 9.10% MERCADOLIBRE 1,629 ▼ 0.35% NUBANK 12.09 ▼ 0.29% XP 15.61 ▼ 0.19% PAGSEGURO 8.67 ▼ 1.59% STONE 10.62 ▼ 1.30% GLOBANT 38.17 ▼ 3.58% TECNOGLASS 42.37 ▼ 0.87% GAP AIRPORT 232.93 ▼ 2.80% ASUR 287.88 ▼ 1.68% OMA AIRPORT 98.60 ▼ 1.17% AMX ADR 25.13 ▼ 0.83% FEMSA ADR 123.50 ▲ 0.79% CEMEX ADR 12.56 ▼ 2.98% PETROBRAS ADR 17.95 ▼ 0.64% VALE ADR 15.46 ▼ 2.00% ITAU ADR 7.58 ▼ 0.76% SANTANDER BR 5.26 ▼ 1.78% AMBEV ADR 3.13 ▲ 0.48% CSN 1.22 ▼ 6.16% GERDAU 4.63 ▼ 1.70% LATAM ADR 48.58 ▼ 2.28% BTC 60,180 ▼ 5.68% ETH 1,576 ▼ 10.93% SOL 64.00 ▼ 6.87% XRP 1.09 ▼ 6.23% BNB 575.40 ▼ 4.66% ADA 0.16 ▼ 12.11% DOGE 0.08 ▼ 8.27% AVAX 6.89 ▼ 10.38% LINK 7.27 ▼ 9.12% DOT 0.95 ▼ 8.69% LTC 42.86 ▼ 5.91% BCH 213.87 ▼ 12.77% TRX 0.32 ▼ 3.19% XLM 0.19 ▼ 7.14% HBAR 0.08 ▼ 5.72% NEAR 1.91 ▼ 12.82% ATOM 1.68 ▼ 6.96% AAVE 60.61 ▼ 14.82% SELIC 14.50% EMBRAER 73.98 ▲ 6.19% EMBRAER ADR 57.58 ▲ 1.89% JBS 12.10 ▼ 0.94% JBS BDR 61.92 ▲ 3.37% MBRF3 15.76 ▼ 0.13% MBRFY 3.12 ▼ 1.27% INTER 5.74 ▼ 0.43%
since 2009
Friday, June 5, 2026

Brazil Outranks Germany in Military Power — but Not for Long

By · March 10, 2026 · 3 min read

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Key Points
Brazil ranks 11th in the 2026 Global Firepower Index, placing it above Israel (15th), Iran (16th), and Germany (14th), and cementing its position as the dominant military power in the Southern Hemisphere.
A 2026 defense budget of $26.2 billion — a 6.3% increase — now exceeds the combined military spending of every other South American country, funding nuclear submarines, Gripen fighter jets, stealth frigates, and the region’s first modern air defense system.
President Lula warned this week that Brazil could be invaded “any day” without stronger defenses, proposing a joint arms-production partnership with South Africa to reduce dependence on foreign suppliers.

11th in the World, First in the Hemisphere

The 2026 Global Firepower Index, which evaluates 145 nations across more than 60 factors including military hardware, financial capacity, logistics, and geography, ranks Brazil as the world’s 11th most powerful military force. The PowerIndex score of 0.2374 places it ahead of Pakistan (12th), Indonesia (13th), Germany (14th), Israel (15th), and Iran (16th) — two nations currently at war.

The ranking reflects more than raw firepower. The methodology weighs industrial mobilization capacity, natural resource reserves, and geographic depth — areas where Brazil’s continental dimensions and diversified manufacturing base give it a structural advantage that elevates its score beyond what active personnel numbers alone would suggest.

Record Defense Budget Ends Years of Austerity

The ranking arrives alongside Brazil’s largest defense budget in eight years. At 142 billion reais ($26.2 billion), the 2026 allocation represents a 6.3% increase and, for the first time, exceeds the combined military spending of every other South American nation. A new fiscal carve-out allows up to 5 billion reais per year to bypass spending caps for military modernization.

Brazil Outranks Germany in Military Power — but Not for Long. (Photo Internet reproduction)
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The money is flowing into flagship programs. The Air Force is continuing deliveries of Saab’s Gripen E/F fighter jets, though only 10 of 36 planned aircraft have arrived, with full delivery not expected until 2032. The Navy commissioned its third Scorpène-class submarine in late 2025 and launched a fourth, while construction advances on the Álvaro Alberto — Brazil’s first nuclear-powered submarine, projected for the mid-2030s. The Army is acquiring 96 Centauro II armored vehicles and deploying the region’s first modern air defense system.

Why It Matters Now

The buildup gains sharper significance after Trump’s Shield of the Americas summit, from which Brazil was deliberately excluded. The January capture of Venezuela’s Nicolás Maduro by U.S. special forces — an 18-minute raid on sovereign territory — has accelerated defense discussions in Brasília. Speaking alongside South Africa’s Cyril Ramaphosa on Monday, Lula warned that Brazil could be invaded “any day” and proposed a joint arms-production partnership with Pretoria to reduce dependence on foreign suppliers.

Gaps Behind the Numbers

Despite the headline ranking, Brazil’s military faces structural weaknesses the index does not capture. Personnel costs consume 74% to 80% of the budget, leaving little for equipment. Gripen deliveries are years behind schedule, the nuclear submarine program has been repeatedly delayed, and at roughly 1.1% of GDP, defense spending remains well below the 2% floor that proposed legislation (PEC 55/2023) would establish but Congress has not yet voted on.

The Germany Factor

The ranking deserves a reality check. Germany, three places below Brazil at 14th, is in the middle of the largest military buildup in its postwar history. Berlin’s 2026 defense budget totals approximately 108 billion euros ($119 billion) when the regular allocation and Sondervermögen special fund are combined — more than four times what Brazil spends. Chancellor Friedrich Merz has pledged to hit 3.5% of GDP by 2029, pushing annual spending toward 162 billion euros. Germany is purchasing up to 1,000 Leopard 2A8 tanks, F-35 fighter jets, and overhauling its entire air defense architecture.

That Germany still ranks below Brazil illustrates the methodology’s heavy weighting of manpower and geographic depth over procurement power. Brazil’s 2.1 million total personnel and continental territory boost its composite score. But in operational capability and investable resources, the gap is widening fast. What took Germany three years to begin — a genuine fiscal commitment to rearmament — Brazil is still debating in Congress.

This is part of The Rio Times’ daily coverage of Latin American news and Latin American financial news.

For more context, read Brazil’s Morning Call and the Chile IPSA report.

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