Fin24

Brazil economy overtakes Britain - study

2011-12-27 11:12

London - Brazil has overtaken Britain as the world's sixth-largest economy, a London-based research group said on Monday.

In its latest World Economic League Table, the Centre for Economics and Business Research (CEBR) said Asian countries were moving up while European countries were slipping down.

CEBR chief executive Douglas McWilliams told BBC radio that Brazil's advance was part of a wider trend.

"I think it's part of the big economic change, where not only are we seeing a shift from the west to the east, but we're also seeing that countries that produce vital commodities - food and energy and things like that - are doing very well and they're gradually climbing up the economic league table," he said.

Brazil's population of about 200 million is more than three times that of Britain.

The Brazilian economy grew 7.5% in 2010, but the government has cut its growth projections to 3.5% for this year after the economy slowed in the third quarter.

The CEBR also predicted that the British economy would overtake France - ranked fifth this year - by 2016 and it said India, the world's 10th-biggest economy in 2011, would move up to fifth place by 2020.

It says the US economy is the biggest, followed by China, Japan and Germany.

Comments
  • digofarias - 2011-12-27 12:51

    I'm glad to hear that as a Brazilian, but if big economy meant wealthier country China would have the highest figures in Human Development Index (HDI). In the same way, half of Brazilian population receives less than R$375 (£120) per month as Income (Source: CENSO 2010) and 50 cities in Brazil concentrate 47% of income in whole Brazil (Source: O fluminense news, ECONOMIA). I prefer that we had an average economy with very high HDI.

  • 100002787710250 - 2011-12-28 10:51

    Clear indications for the Brazillians but i could be glad if south africa could pick up and balance in market so that our GDP can aty stable economically.

  • Nasdaq7 - 2011-12-28 17:46

    And then there's South Africa under the management of idiots. A welfare state that distributes $10bn in social grants a year so that its leaders can win the next election. There's meetings and afterwards there's parties in the ANC, that is how they run the country. Deals and parties. That is what they constantly do. No government in the history of this country has spent so much on partying every day.

  • Batman - 2011-12-30 10:13

    It still baffles me how a little rock, surrounded by ocean, with virtually no resources to speak of, can become the 7th largest economy in the world. Surely the thievery of the imperial age has nothing to do with this.

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