Brazil Economy

Working abroad sounds like an adventure to many people. However, job search in Brazil requires more than just the obvious Brazil CV and Brazil cover letter writing and translation, it requires thorough preparation. You will face problems that probably did not even come to your mind when you decided to seek for Brazil jobs.

Do not take too lightly the influence a work in Brazil can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

art_warning Brazil EconomyMost visits to Brazil are trouble-free but you should be aware of the global risk of indiscriminate international terrorist attacks, which could be against civilian targets, including places frequented by foreigners.

Brazil economy - overview: Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments.

In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years.

Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.5% in 2012. Despite slower growth, in 2011 Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors.

Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a series of more expansionary monetary and fiscal policies that have failed to stimulate much growth.

Labor force - by occupation: agriculture: 20%, industry: 14%, services: 66% (2003 est.)

Unemployment rate: 6.2% (2012 est.), youth ages 15-24: male: 13.9%, female: 23.1% (2009)

Natural resources: bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, rare earth elements, uranium, petroleum, hydropower, timber

Industries: textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft, motor vehicles and parts, other machinery and equipment

BrazilCurrencyl

Currency: Real/Reais (BRL; symbol R$) = 100 centavos. Notes are in denominations of R$100, 50, 10, 5, 2 and 1. Coins are in denominations of R$1, and 50, 25, 10, 5, and 1 centavos.

Credit/Debit Cards and ATMs: Most major international credit cards are accepted. There is an extensive network of ATMs around the country.

Traveler’s Cheques: Traveller's cheques are becoming increasingly difficult to cash and visitors will find that they often lose money when doing so. Withdrawing cash directly from ATMs is preferable. Banks will not cash traveller's cheques into foreign currency, including US Dollars. Some hotels will accept payment in traveller's cheques.

Exchange rates: reals (BRL) per US dollar - 2.1 (2012 est.), 1.675 (2011 est.), 1.7592 (2010 est.), 2 (2009), 1.8644 (2008)

Inflation rate (consumer prices): 5.5% (2012 est.)

Other Brazil Economy Info

We hope that your Brazil job search has been successful and you have an Brazil visa too. So, if your Brazil cover letter and Brazil CV are ready, you may distribute them to your future employers and start preparing for a Brazil job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Brazil economy info.

Translate


Copyright © 2016 jobERA.com. All Rights Reserved.