Published On : 04-May-2022
The beauty of Brazil is as varied as its fertile land and as vast as the endless Atlantic ocean that reigns on the nation’s shores. Home to the Amazon Rainforest, Brazil has become a crucial part of the agricultural supply chain to the United States of America. Brazil exports soybeans, corn, sugar, meat and coffee to various parts of the world, including North America and Europe.
Brazil is located on the northern tip of South America. It is the largest country in South America in terms of size. Covering about half of South America, Brazil is the fifth largest country in the world. Endowed with copious amounts of natural and human resources, Brazil is also the largest economy in South America and one of the ten largest in the world.
The nation’s economy is counted among the developing economies. For a brief period in 2012, Brazil eclipsed the United Kingdom as the sixth-largest world economy. Although a recession followed, and now the COVID19 crisis and other global shipping disruptions have plunged the nation into uncertainty.
As of 2018-19, Brazil and India’s bilateral trade stood at $8.2 Billion. The nations share historic ties rooted in their deep belief in democracy and cultural and democratic affinities.
The Indian state of Goa shares its Portuguese heritage with Brazil. Though unknown to most, several Brazilian cattle breeds are of Indian origin. India maintains an embassy in Brasilia. Several Indian Heads of State have visited Brazil on bilateral visits.
Much of the Brazilian Amazon Rainforest has been deforested to create a way for plantations and agro-business industries. Palm oil plantations in Brazil provide raw materials for cooking oil that is exported to North America.
Brazil’s primary export commodities are oil seeds, fruits, Ores slag and ash, mineral fuels, meat, sugars and iron & steel.
The leading export partner is China accounting for about 33% of the trade volume. Other top countries are the United States, Argentina, Netherlands, Canada, and Japan.
Foreign investment input has ushered Brazil into its currently developing economy status from an agrarian economy just a few decades ago. Brazil’s primary import commodities are machinery & nuclear reactors, electrical equipment, mineral fuels, oils and organic chemicals. The leading import partners are China, the US, Germany, Argentina, and South Korea.
In recent years, increased deforestation has caused detriment to the nation’s ancient Amazon rainforests. The Amazon, a marvel of the ecological world, is also called the ‘lungs of the world’. It is responsible for producing most of our planet’s oxygen. The government must ensure that climate concerns go hand in hand with development goals. Climate change has altered Brazil’s weather patterns which affect farmland and reduce agricultural output.
Global supply chain disruptions due to the pandemic and the Russian war with Ukraine have led to households facing double-digit inflation. The government must secure funds to allay fears of astronomical price rises and smooth things over until the end of the Russia-Ukraine war, whenever that day comes to be.
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