Brazil
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QUICK FACTS
- Population:
- 198.4 million
- GDP (PPP):
- $2.4 trillion
- 0.9% growth
- 3.2% 5-year compound annual growth
- $11,875 per capita
- Unemployment:
- 5.5%
- Inflation (CPI):
- 5.4%
- FDI Inflow:
- $65.3 billion
Brazil’s economic freedom score is 56.9, making its economy the 114th freest in the 2014 Index. Its score is 0.8 point worse than last year, with declines in labor freedom, monetary freedom, fiscal freedom, and trade freedom. Brazil is ranked 20th out of 29 countries in the South and Central America/Caribbean region, and its overall score is below the world average.
Over the 20-year history of the Index, Brazil’s economic freedom score has improved by only 5.5 points. The combined improvement achieved in five of the 10 economic freedoms, including trade freedom, monetary freedom, and investment freedom, has been offset by deteriorations in the area of government size that measures the tax burden and government spending.
Brazil had advanced into the ranks of the “moderately free” economies in the Index during the first half of the 2000s, but since 2007, the economy has fallen back to the status of “mostly unfree.” The lack of progress toward greater economic freedom has discouraged private-sector growth and continues to undermine realization of the economy’s full potential.
