Manufacturing accounts for about one-fifth of GDP and more than one-tenth of the labor force. With few exceptions, the Southeast is home to the largest, most diverse, and most efficient facilities in all industrial sectors. It also employs three-fifths of the country’s industrial workers, who earn the majority of Brazil’s wages and produce the most valuable goods. The South employs more than one-fifth of the country’s industrial workers, while the Northeast employs about half, and wages are lower than in the Southeast and South. Within the southern and southeastern states, manufacturing in Paraná, Minas Gerais, Rio de Janeiro, Rio Grande do Sul, and Espírito Santo alone produces nearly two-fifths of Brazil’s manufactured goods. It is increasingly offsetting São Paulo’s industrial strength. Generally speaking, factories in Brazil are not large. Only a few companies employ more than 100 workers. As expected, the largest companies are in the Southeast, followed by the South.
Since the mid-20th century, Brazil has been the world’s major supplier. Automobiles produce approximately 2 million vehicles annually. Other major manufacturers include electrical machinery, paints, soaps, pharmaceuticals, chemicals, aircraft, steel, food, paper, etc. Brazil is the main producing country Textiles, clothing and footwear since the early 19th century. The textile industry began in Bahia in 1814, using locally sourced cotton. Currently, we are mainly active in São Paulo and Fortaleza. of The footwear industry, centered in Rio Grande do Sul, began in the 1820s with the small-scale manufacture of leather goods supplied with surplus hides from the meatpacking industry.
service
The rapidly expanding services sector is Brazil’s largest employer, accounting for more than half of the workforce. It consists of private and government services, including national and local bureaucracies, public utilities, and a number of special agencies. The private sector employs the most workers in the hospitality industry (hotels, restaurants, bars) and in various types of repair shops. Retail sales and personal services each account for the bulk of the remaining private sector workers. The fastest growing employment sector is information technology.
finance
The National Monetary Council is under the direction of the Minister of Finance and is Brazil’s main monetary policy-making body. it is, Central Bank of Brazil. It issues currency (Reais) and controls money supply, credit, foreign capital, and other top-level financial matters. The federal government also uses other public financial institutions to implement its policies, the most important of which is Banco do Brasil. It is the country’s largest bank, has numerous domestic and international agencies, and is the main source of long-term financing for farmers and industrial exporters. The National Economic and Social Development Bank channels government and international financing for large-scale development projects, including lending to state governments for projects they cannot finance on their own, such as the metros in São Paulo and Rio de Janeiro. The National Housing Bank offers home construction loans, and the Federal Savings Bank (Caixa Economica Federal) offers short-term loans to individuals.
Many states have their own government banks, of which Banco de São Paulo is the most important. Although private banks make up a small portion of Brazil’s commercial banking operations, they also offer short-term loans and savings accounts. In the 1990s, federal and state governments privatized or closed several previously state-owned banks, allowing foreign investors to control more financial institutions. The main stock market is the São Paulo Stock Market (1890). Rio de Janeiro has a small market (1845), and the cities of Porto Alegre, Vitoria, Recife, Santos, and São Paulo have commodity exchanges. The securities system has historically been poorly regulated and unstable, but reforms occurred in the early 21st century.
trade
Foreign trade has been vital to Brazil’s economy throughout the country’s existence. However, historically, exports have accounted for a small portion of national income, and Brazil has had difficulty maintaining a good trade balance due to large external debt payments. With several years of trade surpluses in the 1980s and 1990s, things began to change. By the early 21st century, as the country’s external debt declined, exports flourished (facilitated by government loans and efforts to negotiate greater access to foreign markets), and Brazil enjoyed a significantly positive trade balance. did. Another important factor that contributed significantly to export growth was the expansion of the country’s ethanol industry.
China and the United States are Brazil’s main trading partners. However, since the Southern Common Market, regional trade has increased, especially with Argentina (Mercosur (Mercosur) was founded in 1991. Other major trading partners include Germany, Mexico, the Netherlands, Japan, South Korea, and Italy.
