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Brazil overtakes UK as world's sixth biggest economy
30/12/2011
The latest official rankings of global economies have shown that Brazil has overtaken the UK to become the world’s sixth biggest economy.
The latest World Economic League Table from the Centre for Economics and Business Research (CEBR) has shown that Brazil was shoring up its position as one of the world’s biggest and most stable economic powerhouses.
The CEBR table validate a report from the International Monetary Fund, published earlier, that said that Brazil would rise to sixth – pushing the UK down to seventh – before the end of 2011.
While Brazilian economists have highlighted a number of concerns of the future of the nation’s economic health – including the flooding of the market with cheap, mass-produced goods from China – the CEBR has predicted a stable future for it.
The body’s prediction for the 2020 chart showed Brazil still at number six, having been leapfrogged by Russia and India, but seeing Germany and France fall below it.
CEBR chief executive Douglas McWilliams told the BBC that Brazil was in a very strong position due to its abundant natural resources and switched-on workforce.
He explained, “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.”
The latest World Economic League Table from the Centre for Economics and Business Research (CEBR) has shown that Brazil was shoring up its position as one of the world’s biggest and most stable economic powerhouses.
The CEBR table validate a report from the International Monetary Fund, published earlier, that said that Brazil would rise to sixth – pushing the UK down to seventh – before the end of 2011.
While Brazilian economists have highlighted a number of concerns of the future of the nation’s economic health – including the flooding of the market with cheap, mass-produced goods from China – the CEBR has predicted a stable future for it.
The body’s prediction for the 2020 chart showed Brazil still at number six, having been leapfrogged by Russia and India, but seeing Germany and France fall below it.
CEBR chief executive Douglas McWilliams told the BBC that Brazil was in a very strong position due to its abundant natural resources and switched-on workforce.
He explained, “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.”
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