Brazil

Economy & industry overview

Brazil is the largest economy in Latin America and ranks among the world's top ten by nominal GDP, supported by a diverse industrial base and abundant natural resources including iron ore, oil, soybeans, and timber. The economy grew approximately 3.4 percent in real terms in 2024, driven by strong private consumption, government transfers, and a tight labor market. Key industries include oil and gas, mining, agriculture, financial services, aircraft manufacturing, and pulp and paper. Inflation closed 2024 at approximately 4.83 percent, above the central bank target, prompting the Banco Central do Brasil to resume monetary tightening and end the year with a 12.25 percent policy rate. Public debt remains elevated, tracking toward 90 percent of GDP, and fiscal consolidation is an ongoing policy challenge.

Key sectors

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Macro

GDP nominal, USD	$2.19T
GDP growth real, annual	3.4%
Inflation annual	4.8%
Population people	213.0M
GDP per capita USD	$10,282
Market cap total listed, USD	$870.73B
Market cap / GDP	39.8%
Unemployment	6.8%
Listed companies	358
Exchange	B3, Brasil, Bolsa, Balcao (the São Paulo Stock, Commodities and Futures Exchange, formerly BM&FBOVESPA) (BVMF)

Primary data year: 2024. Sources: IMF World Economic Outlook (October 2024), World Bank, IBGE (Instituto Brasileiro de Geografia e Estatistica), B3 S.A. Brasil Bolsa Balcao official exchange data, Baker McKenzie Cross-Border Listings Guide Brazil, FocusEconomics Brazil, Lloyds Bank Trade Portal Brazil, Worldometer GDP data, StatisticsTimes, Wikipedia Economy of Brazil. Individual figures may cover different reference periods — for example a fiscal year, or an estimate for the current year — and the overview above states these where known.

Local exchange & access

Exchange	B3, Brasil, Bolsa, Balcao (the São Paulo Stock, Commodities and Futures Exchange, formerly BM&FBOVESPA)
Code	BVMF
Website	www.b3.com.br/en_us/
Currency	BRL

Local broker access

Foreign individuals and institutions may invest in Brazilian listed equities through B3 via a locally registered custodian or broker under CVM Resolution 13 (formerly Instruction 4,373). Investors must register with the Banco Central do Brasil, obtain a CPF (tax identification number), and appoint a local representative. Several international brokers offer access to Brazilian ADRs and US-listed ETFs without requiring local account setup. Capital gains and dividend distributions for non-resident investors are subject to Brazilian withholding tax under applicable rules and tax treaties.

Global brokers with foreign-market access

• Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
• Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
• Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
• Fidelity International Trading — International stock trading on a number of developed and emerging markets.

Listed for convenience only. Not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.

Relocation & residency

Foreign-investor access

Brazil offers a residency-by-investment program administered by the Ministry of Justice and Public Security. Qualifying investment routes include a minimum contribution to a Brazilian Investment Fund (FIP) of approximately BRL 500,000 (roughly USD 90,000 to 175,000 depending on exchange rate), investment in a Brazilian company, or real estate acquisition combined with job creation. Approved applicants receive a two-year temporary residence permit, renewable, and may apply for permanent residency after four years and citizenship after four years of permanent residency. Tax residency rules apply from the date of first entry as a visa holder.