27/12/2011 11:29
Brazil 6th biggest economy in the world
It’s another milestone – an emerging economy overtakes a developed one in terms of GDP.
Earlier this year it was China overtaking Japan. This time, Brazil has moved ahead of the UK as the 6th biggest economy in the world, the Financial Times reports.
The estimate that Brazil is now ahead of the UK in GDP was made by the Centre for Economics and Business Research, a UK-based economic forecaster. Given Brazil’s growth rate of over 7 per cent for the last year, it has been predicted by others, including the IMF, that it would overtake the UK at some point in 2011.
Russia and India are set to move up from 9th and 10th respectively, with Italy at 8th in their sights. The CEBR predicts that by 2020, the four Brics will be the 2nd (China), 4th (Russia), 5th (India) and 6th (Brazil) largest economies, with only the US (1st) and Japan (3rd) ahead, the source reports.
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