What kind of economy does Brazil have?

Answer 1

Economical informations taken from Wikipedia-english

Brazil is the largest national economy in Latin America, the world's tenth largest economy at market exchange rates[15][217] and the ninth largest in purchasing power parity (PPP),[15][218] according to the International Monetary Fund and the World Bank. Its GDP (PPP) per capita is $10,200, putting Brazil in the 64rd position according to World Bank data. It has a large and developed agricultural, mining, manufacturing and service sectors, as well as a large labor pool.[16] Brazilian exports are booming, creating a new generation of tycoons.[219] Major export products include aircraft, coffee, automobiles, soybean, iron ore, orange juice, steel, ethanol, textiles, footwear, corned beef and electrical equipment.[220] The country has been expanding its presence in international financial and commodities markets, and is regarded as one of the group of four emerging economies called BRIC.[221] The biggest investment boom in history is under way; in 2007, Brazil launched a four-year plan to spend $300 billion to modernize its road network, power plants and ports.[222]

Brazil had pegged its currency, the real, to the U.S. dollar in 1994. However, after the East Asian financial crisis, the Russian default in 1998[223] and the series of adverse financial events that followed it, the Brazilian central bank temporarily changed its monetary policy to a managed-float scheme while undergoing a currency crisis, until definitively changing the exchange regime to free-float in January 1999.[224] Brazil received an International Monetary Fund rescue package in mid-2002 in the amount of $30.4 billion,[225] a record sum at that time. The IMF loan was paid off early by Brazil's central bank in 2005 (the due date was scheduled for 2006).[226] One of the issues the Brazilian central bank is currently dealing with is the excess of speculative short-term capital inflows to the country in the past few months, which might explain in part the recent downfall of the U.S. dollar against the real in the period.[227] Nonetheless, foreign direct investment (FDI), related to long-term, less speculative investment in production, is estimated to be $193.8 billion for 2007.[228] Inflation monitoring and control currently plays a major role in Brazil's Central Bank activity in setting out short-term interest rates as a monetary policy measure.[229]
[edit] Components and energy
Main articles: Agriculture in Brazil, Industry in Brazil, and Energy policy of Brazil
Itaipu Dam, the world's largest hydroelectric plant by energy generation and second-largest by installed capacity.

Brazil's economy is diverse,[230] encompassing agriculture, industry, and a multitude of services.[219][231][232][233] The recent economic strength has been due in part to a global boom in commodities prices with exports from beef to soybeans soaring.[232][233] Agriculture and allied sectors like forestry, logging and fishing accounted for 5.1% of the gross domestic product in 2007.[234] A performance that puts agribusiness in a position of distinction in terms of Brazil's trade balance, in spite of trade barriers and subsidizing policies adopted by the developed countries.[235][236] The industry; from automobiles, steel and petrochemicals to computers, aircraft, and consumer durables; accounted for 30.8% of the gross domestic product.[234] Industry is highly concentrated geographically, with the leading concentrations in metropolitan São Paulo, Rio de Janeiro, Campinas, Porto Alegre, and Belo Horizonte. Technologically advanced industries are also highly concentrated in these locations.[237]

Brazil is the world's tenth largest energy consumer. Its energy comes from renewable sources, particularly hydroelectricity and ethanol; and nonrenewable sources, mainly oil and natural gas.[238] A global power in agriculture and natural resources, Brazil witnessed tremendous economic growth over the past three decades.[239] Brazil is expected to become a major oil producer and exporter, having recently made huge oil discoveries.[240][241][dead link][242][243] The governmental agencies responsible for the energy policy are the Ministry of Mines and Energy, the National Council for Energy Policy, the National Agency of Petroleum, Natural Gas and Biofuels, and the National Agency of Electricity.[244][245]
[edit] Science and technology