With a gross domestic product of $2.42 trillion, Brazil is already the world’s sixth largest economy—bigger than the UK. A diversity of trading partners, as well as a mix of agriculture, raw materials, manufacturing and services bodes well for continued growth and reduces vulnerability to global economic upheavals.
Current account balance, capturing a country’s international monetary transactions, is the difference between a country’s exports and imports of goods and services plus net returns on investments abroad and net transfers (compensation, pensions, donations, etc.) A positive balance indicates the country is owed money from other economies.
Public debt is the amount of money owed by the country’s government to creditors.
Economists at Coface outline positive economic trends for property/casualty insurers looking for growth in Brazil, including 3 percent GDP growth and an expanding middle class in an exclusive article for CarrierManagement.com, “Focus On Brazil: Strong Economy, Looming Infrastructure Projects Present P/C Insurance Opportunities.”