Обзор экономики и отраслей
Brazil is the largest economy in Latin America and the ninth or tenth largest in the world by nominal GDP, driven by a diverse mix of agriculture, mining, manufacturing, financial services, and energy. The country is a leading global exporter of soybeans, iron ore, crude oil, beef, sugar, coffee, and pulp, making commodities a central pillar of its export revenues. The financial sector is well-developed, featuring large private and state-owned banks, as well as a growing fintech ecosystem anchored by companies such as Nu Holdings. Brazil recorded real GDP growth of approximately 3.4% in 2024, though growth is projected to moderate in 2025–2026 amid tighter monetary policy, currency volatility, and fiscal uncertainty. The B3 exchange in São Paulo is the largest stock exchange in Latin America by market capitalisation and average trading volume.
Ключевые секторы
Всё о стране Brazil →Макро
| ВВП номинальный, USD | $2.18T |
| Рост ВВП реальный, годовой | 3.4% |
| Инфляция годовая | 5.7% |
| Население человек | 213.0M |
| ВВП на душу населения USD | $10,214 |
| Рыночная капитализация всего на бирже, USD | $870.73B |
| Рыночная капитализация / ВВП | 39.9% |
| Безработица | 6.9% |
| Листингованные компании | 358 |
| Биржа | B3 – Brasil, Bolsa, Balcão (BVMF) |
Год данных: 2024. Источники: World Bank World Development Indicators 2024, IMF World Economic Outlook April 2025, OECD Economic Outlook Volume 2025 Issue 1, B3 S.A. – Brasil, Bolsa, Balcão (Baker McKenzie Cross-Border Listings Guide, December 2025), CEIC Data – B3 Market Capitalisation USD, FocusEconomics – Brazil, Wikipedia – Economy of Brazil, Statista – Brazil GDP and Unemployment, Trading Economics – Brazil, Wikipedia – List of Largest Brazilian Companies, FinanceCharts – Biggest Companies in Brazil by Market Cap, BrazilianFinance.com – ADRs and ETFs, Americas Quarterly – Brazil 2025 Snapshot.
Последние новости
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Другие рынки Latin America
Крупнейшие листингованные компании
Крупнейшие компании на основной местной бирже по рыночной капитализации.
| # | Компания | Сектор | Рыночная капитализацияUSD | Листинг в США |
|---|---|---|---|---|
| 1 | Petróleo Brasileiro S.A. – PetrobrasPETR4 · BVMF | Oil & Gas | $111.20B | PBR |
| 2 | Itaú Unibanco Holding S.A.ITUB4 · BVMF | Financial Services | $75.00B | ITUB |
| 3 | Nu Holdings Ltd.ROXO34 · BVMF | Fintech / Financial Services | $70.00B | NU |
| 4 | Vale S.A.VALE3 · BVMF | Mining & Metals | $60.00B | VALE |
| 5 | WEG S.A.WEGE3 · BVMF | Industrials / Electrical Equipment | $38.00B | — |
| 6 | Embraer S.A.EMBR3 · BVMF | Aerospace & Defence | $26.00B | ERJ |
| 7 | Banco Bradesco S.A.BBDC4 · BVMF | Financial Services | $25.00B | BBD |
| 8 | B3 S.A. – Brasil, Bolsa, BalcãoB3SA3 · BVMF | Financial Services / Exchange | $21.00B | — |
| 9 | Banco do Brasil S.A.BBAS3 · BVMF | Financial Services | $20.00B | — |
| 10 | Ambev S.A.ABEV3 · BVMF | Consumer Staples / Beverages | $19.00B | ABEV |
| 11 | Centrais Elétricas Brasileiras S.A. – EletrobrasELET3 · BVMF | Utilities / Electric Power | $18.00B | EBR |
| 12 | Companhia de Saneamento Básico do Estado de São Paulo – SabespSBSP3 · BVMF | Utilities / Water & Sanitation | $16.00B | SBS |
| 13 | Banco BTG Pactual S.A.BPAC11 · BVMF | Financial Services / Investment Banking | $15.50B | — |
| 14 | Raia Drogasil S.A.RADL3 · BVMF | Healthcare / Retail Pharmacy | $13.00B | — |
| 15 | Suzano S.A.SUZB3 · BVMF | Pulp & Paper | $12.50B | — |
| 16 | JBS S.A.JBSS3 · BVMF | Food Processing / Agribusiness | $12.00B | — |
| 17 | Telefônica Brasil S.A. – VivoVIVT3 · BVMF | Telecommunications | $11.50B | VIV |
| 18 | TIM S.A.TIMS3 · BVMF | Telecommunications | $9.00B | TIMB |
| 19 | Gerdau S.A.GGBR4 · BVMF | Steel & Metals | $8.50B | GGB |
| 20 | Localiza Rent a Car S.A.RENT3 · BVMF | Consumer Discretionary / Mobility | $8.00B | — |
| 21 | Cosan S.A.CSAN3 · BVMF | Energy / Agribusiness / Logistics | $7.50B | — |
| 22 | Rumo S.A.RAIL3 · BVMF | Transportation & Logistics | $7.00B | — |
| 23 | Magazine Luiza S.A. – MagaluMGLU3 · BVMF | Retail / E-commerce | $3.50B | — |
| 24 | Hapvida Participações e Investimentos S.A.HAPV3 · BVMF | Healthcare / Health Insurance | $5.00B | — |
| 25 | XP Inc.XPBR31 · BVMF | Financial Services / Brokerage & Wealth | $10.00B | XP |
ETF на рынках США
Фонды, зарегистрированные в США и обеспечивающие доступ к этому рынку, наиболее простой маршрут для многих американских инвесторов.
| ETF | Охват | Коэффициент расходов% годовых | Экспозиция% фонда |
|---|---|---|---|
| FLBRFranklin FTSE Brazil ETF · Franklin Templeton | Одна страна | 0.19% | 100% |
| EWZSiShares MSCI Brazil Small-Cap ETF · BlackRock / iShares | Одна страна | 0.59% | 100% |
| EWZiShares MSCI Brazil ETF · BlackRock / iShares | Одна страна | 0.59% | 100% |
| VWOVanguard FTSE Emerging Markets ETF · Vanguard | Широкий EM | 0.08% | 4% |
| ILFiShares Latin America 40 ETF · BlackRock / iShares | Региональный | 0.48% | 55% |
| GMLSPDR S&P Emerging Latin America ETF · State Street / SPDR | Региональный Delisted | 0.49% | 52% |
| EWXState Street SPDR S&P Emerging Markets Small Cap ETF · State Street / SPDR | Широкий EM | 0.65% | 8% |
| EEMiShares MSCI Emerging Markets ETF · BlackRock / iShares | Широкий EM | 0.70% | 4% |
Местная биржа и доступ
| Биржа | B3 – Brasil, Bolsa, Balcão |
| Код | BVMF |
| Сайт | www.b3.com.br/en_us/ |
| Валюта | BRL |
Доступ через местных брокеров
Foreign investors can access Brazilian equities through US-listed ADRs (e.g., PBR, VALE, ITUB, BBD, ABEV, NU, GGB, ERJ) and US-traded ETFs (e.g., EWZ, FLBR, EWZS) without needing a Brazilian brokerage account. Direct investment on B3 requires a local CPF tax number, a Brazilian brokerage account or a custodian arrangement under CVM (Comissão de Valores Mobiliários) Resolution No. 13/2020 rules for foreign portfolio investors (formerly Instruction 4.373). Major international brokers including Interactive Brokers, Schwab, and Fidelity provide access to Brazilian ADRs. Currency risk between BRL and USD is a material consideration given the real's historical volatility.
Глобальные брокеры с доступом к иностранным рынкам
- 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.
Приведено исключительно для справки, не является рекомендацией. Доступные рынки, комиссии и условия обслуживания различаются у разных брокеров и зависят от страны вашего проживания.
Переезд и вид на жительство
Инвестиционная виза / программа вида на жительство
Гранты Temporary residency (renewable, convertible to permanent after 4 years)
Brazil does not operate a traditional 'golden visa' programme granting residency solely in exchange for a passive financial investment. However, Brazil's immigration law (Lei de Migração No. 13.445/2017) provides a residency pathway for foreign investors who make a qualifying investment in a Brazilian company and create jobs. The minimum investment threshold set by the National Immigration Council (CNIg) has historically been around BRL 500,000 (approximately USD 90,000–100,000 at prevailing rates) for investments that generate employment. Successful applicants may obtain a temporary residence permit, renewable and convertible to permanent residency after four years. Brazil also offers residency to retirees who can demonstrate a minimum monthly pension income (historically around USD 2,000/month). There is no formal citizenship-by-investment shortcut; naturalisation generally requires four years of permanent residency (or one year in some cases for nationals of Portuguese-speaking countries).
Минимальные инвестиции: $90.00K
Нужна помощь с подачей заявки? Специализированные консультанты по инвестиционной миграции, например Henley & Partners.
Доступ для иностранных инвесторов
Brazil is open to foreign residents and retirees. A long-term resident visa requires proof of ongoing income (pension or employment) or a qualifying business investment. The cost of living is moderate compared to North America or Western Europe, though Sao Paulo and Rio de Janeiro are among Latin America's more expensive cities. Healthcare is provided through the public SUS system, with a large private-sector supplement. Portuguese language proficiency is strongly advisable. Foreign nationals must register with the Federal Police and obtain a CPF (tax identification number). Income earned abroad is taxable in Brazil for tax residents after 183 days in any 12-month period.
АДР и кросс-листинги в США
Компании из этой страны, акции которых также торгуются в США, доступны через обычный брокерский счёт в США.
| Компания | Тикер в США | Местный тикер | Примечание |
|---|---|---|---|
| Ambev S.A. | ABEV | ABEV3 | NYSE ADR for Ambev, Brazil's dominant beer and beverage producer and the AB InBev subsidiary for Latin America. Each ADR represents one ordinary share. |
| Banco BTG Pactual S.A. | BPAC11 | BTG Pactual is listed on B3 only (as BPAC11 units) and does not currently have a US-listed ADR, though it is accessible to international investors through its B3 listing via custodian arrangements. | |
| Banco Bradesco S.A. | BBD | BBDC4 | NYSE ADR representing preferred shares of Banco Bradesco, Brazil's second-largest private bank. Also has a common-share ADR (BBDO / BBDC3). |
| Centrais Elétricas Brasileiras – Eletrobras | EBR | ELET3 | NYSE ADR for Eletrobras common shares (ELET3). Also has a preferred share ADR (EBR.B / ELET6). Partially privatised in 2022. |
| Companhia de Saneamento Básico – Sabesp | SBS | SBSP3 | NYSE ADR for Sabesp, the São Paulo state water utility. Underwent partial privatisation in 2024. |
| Embraer S.A. | ERJ | EMBR3 | NYSE ADR for Embraer, the Brazilian commercial and military aircraft manufacturer. Each ADR represents four ordinary shares. |
| Gerdau S.A. | GGB | GGBR4 | NYSE ADR for Gerdau's preferred shares. One of the most internationally recognised Brazilian steel companies. |
| Itaú Unibanco Holding S.A. | ITUB | ITUB4 | NYSE-listed ADR for Brazil's largest private bank. Each ADR represents one preferred share. Widely held in EM equity funds and indices. |
| Nu Holdings Ltd. | NU | ROXO34 | Nu Holdings is primarily listed on the NYSE (not a traditional ADR structure); it holds a BDR (Brazilian Depositary Receipt) on B3 under the ticker ROXO34. It is the holding company of Nubank, the digital bank. |
| Petróleo Brasileiro S.A. – Petrobras (Common) | PBR.A | PETR3 | NYSE-listed ADR representing the common (ON) shares of Petrobras. Trades alongside the preferred-share ADR (PBR). |
| Petróleo Brasileiro S.A. – Petrobras (Preferred) | PBR | PETR4 | Level III ADR on NYSE. Preferred share class (PETR4); Petrobras also has a common share ADR (PBR.A / PETR3). One of the most heavily traded Latin American ADRs by volume. |
| TIM S.A. | TIMB | TIMS3 | NYSE ADR for TIM, Brazil's third-largest mobile operator. One ADR equals five TIMS3 ordinary shares. |
| Telefônica Brasil – Vivo | VIV | VIVT3 | NYSE ADR for Telefônica Brasil. Each ADR represents one ordinary share of the company. |
| Vale S.A. | VALE | VALE3 | Level III ADR on NYSE. One of the most liquid EM mining ADRs globally; each ADR represents one ordinary share. Heavy exposure to iron ore and nickel prices. |
| XP Inc. | XP | XPBR31 | XP is primarily listed on Nasdaq; it holds a BDR on B3. One of Brazil's leading investment platforms and brokerages. |