Brazil's recent trade deficit
Brazil is the largest Portuguese speaking nation in the world and the largest nation by population and area in South America and the Latin American region. Brazil is a member of the BRIC group, made up of the four fastest growing major economies: Brazil, Russia, India, and China. Addtionally, it is also a founding member of the United Nations and a member of the G20.
Brazil has the seventh largest economy in the world. Its gross domestic product amounted to over 2.24 trillion U.S. dollars in 2014. The country's population is steadily growing, so, in order to provide for this increasing number of inhabitants, Brazil has to make sure its economy remains stable. Thus, it relies heavily on trade of goods. In 2014, Brazil exported goods with a value of around 225 billion U.S. dollars. The most important export partner for Brazil is China with a share of 17 percent of the Brazilian exports (as of 2012). While the value of exported goods is remarkably high, the value of imported goods is even higher: In 2014, Brazil imported goods with a value of around 240 billion U.S. dollars. As a result of the higher value of imported goods, the nation experienced a trade deficit in 2013 for the first time after a decade of trade surplus; the deficit got even more pronounced in 2014, figures for the next few years are yet to be published.