It has surpassed Canada and is the ninth largest economy in the world according to the International Monetary Fund

21:15 | Tuesday, December 19, 2023 | La Rioja, Argentina | Phoenix Multi Platform

Brazil has overtaken Canada and ranked ninth among the world’s largest economies this year, according to the classification issued by the International Monetary Fund. The report indicates that the country has a gross domestic product estimated at $2.13 trillion in 2023.

Brazilian President Luiz Inacio Lula da Silva commented on social media, in a sarcastic message to those who credited him with luck during his three terms in the progress of the Brazilian national team: “They do not know the work they have to do to be this lucky.” Finance is the first economy in Latin America

According to the International Monetary Fund’s classification, Brazil dropped out of the top ten countries with the largest GDP in 2020, during the second year of the government of the former far-right president, Jair Bolsonaro, to occupy twelfth place.

Between 2009 and 2014, at the end of Lula’s second government and the beginning of the Dilma Rousseff administration (2011-2016), Brazil became the sixth largest GDP in the world, surpassing the United Kingdom.

The top 20 economies in the world in 2023 were the United States, China, Germany, Japan, India, the United Kingdom, France, Italy, Brazil, Canada, Russia, Mexico, South Korea, Australia, Spain, Indonesia, Turkey, and the Netherlands. The Kingdom of Saudi Arabia and Switzerland

What is GDP?

Gross Domestic Product (GDP) is the size of the aggregate economy that expresses the monetary value of the production of goods and services for final demand for a country or region during a given period, usually one year or quarter. According to the International Monetary Fund, “GDP measures the monetary value of final goods and services, purchased by the end user, that are produced in a country in a given period of time, for example, a quarter or a year.

GDP is an economic indicator that reflects the economic development of a country, allows comparisons with others and understands the dynamics of growth and/or economic development, among other things.