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The economy of Brazil is historically the largest in Latin America. The Brazilian economy is the third largest in the Americas. The economy is a middle income developing mixed economy that is the twelfth largest in the world by nominal gross domestic product (GDP) and eighth largest by purchasing power parity in 2020. According to International Monetary Fund (IMF), Brazilian nominal GDP of 2021 was US$1.645 trillion, the country has a long history of being among the ten largest economies in the world. Brazil is the 83rd country in the world in GDP per capita, with a value of US$7,741.15 per inhabitant in 2021. The country is rich in natural resources.
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