Business

Statistics

• GDP: US$1.5 trillion (2009).
• Main exports: Transport equipment, iron ore, soya beans, footwear and coffee.
• Main imports: Machinery and electrical equipment, chemical products, oil and transport equipment.
• Main trade partners: USA, Argentina, China, Germany and Netherlands.

Economy

Despite widespread poverty, Brazil has the world's 9th-largest economy. Agriculture remains the largest sector in terms of employment and Brazil is the world's second-largest exporter of agricultural products, principally coffee, sugar and soya beans. There is also a substantial industrial sector, concentrated in machinery, electrical goods, construction materials, rubber and chemicals and vehicle production.

The country possesses large mineral reserves including iron ore - of which Brazil is the world's largest exporter. Plans to develop Brazil's potentially vast oil and gas resources will serve to reduce the country's large current energy import bill but face opposition on environmental grounds.

The Lula government, which took office in 2003, enjoys widespread popularity for the combination of its progressive social policies and its sound fiscal management, leading to significant annual economic growth (over 5% in 2008). Unemployment was at 7.4% in 2009, with inflation at 4.2%.

Business Etiquette

Business suits are worn when meeting senior officials and local heads of business, for semi-formal social functions and in exclusive restaurants and clubs. Exchange of business cards is usual.

Office hours: Mon-Fri 0900-1800.

Business Contacts

Confederação Nacional do Comércio
Avenida General Justo 307, 8 Andar, 20021-130 Rio de Janeiro, Brazil
Tel: (21) 2532 6015.
Website: www.portaldocomercio.org.br

Brazilian-American Chamber of Commerce (BACC) in the USA
509 Madison Avenue, Suite 304, New York, NY 10022, USA
Tel: (212) 751 4691.
Website: www.brazilcham.com  

American Chamber of Commerce for Brazil
Rua da Paz, 1431 CEP 04713-001 São Paulo, Brazil
Tel: (11) 3011 6000.
Website: www.amcham.com.br