The seventh biggest economy in the world with a Gross Domestic Product (GDP) of USD 2.3 trillion, Brazil is by far the largest economy in Latin America. Indeed, states such as São Paulo alone have an economy bigger than Argentina, Uruguay, Paraguay and Bolivia put together. In fact, were it an independent country, São Paulo would rank among the global top 20 in terms of GDP. A gateway for business in Latin-American countries, the largest port in the continent, Santos, also located the State of São Paulo, is the entrance point for most Latin American imports from all over the world.
Alongside with Argentina, Uruguay, Paraguay and Venezuela, Brazil forms Mercosur, South America’s leading trade bloc that guarantees free trade between its member states and has a regional market of over 250 million people. The country also has been expanding its presence in international financial and commodity markets and is one of the BRICs (Brazil, Russia, India and China). Due to lower labour and production costs in these countries, many companies believe it’s a source of foreign expansion opportunity.
Brazil is a federative republic constituted by the union of 26 states, a Federal District and 5 570 municipalities. Every person in national territory (citizen or foreigner) has rights and duties established by the Brazilian Constitution of 1988.
