• Population: 215 million
• GDP: $1952 billion

Brazil has the biggest economy in Latin America and is a key member of the Mercosur trade pact alongside Argentina, Paraguay, and Uruguay. It has the largest and most populous economy in Latin America, representing about one-third of the region’s GDP.

Its resource-rich land makes Brazil one of the world’s largest producers of coffee, soybeans, beef, sugar cane, and ethanol. Brazil also excels in mining, producing substantial amounts of iron ore and oil, and holds large reserves of minerals crucial for the green transition.

As efforts are being made to bank the vast unbanked population, a thriving fintech scene has emerged. Nu Holdings, globally recognized, leads the way as the premier fintech company in this sector.

With the fifth-largest landmass and the seventh-largest population in the world, the country has undeniable potential to become a leading global economy. However, it faces significant challenges in realizing this potential. 

Brazil’s economic performance has faltered since the global financial crisis, with average GDP growth of just 0.7% over the past decade. Challenges include a bloated public sector, a highly fragmented Congress, high public debt and unemployment, crime, and rampant inequality.