Unit 4 Individual Project
The following paper is a depiction of the current economic concern of the real gross domestic product of the Federal Republic of Brazil. Included as well are data sets which display the statistics and recorded data of the real gross domestic products for the years 2000 through 2010. These data sets provide an analysis for the afore mentioned time frame in order to accurately determine trends over a set period of ten years. Moreover, the data and statistical evidence represented will provide additional support for individual assertions based upon the trends in relation to Brazil’s real gross domestic product. The GDP within this nation directly affects the country’s economy as well, and this will be further explained regarding the specific relationships amongst the economy and the current economic concern: the GDP.
Brazil, officially known as the Federative Republic of Brazil, is a South American country which has recently transitioned from a regional to a global power (U.S. Dept. of State, 2011). This is primarily due to the country’s real gross domestic products which have created surging exports and economic growth. The economic growth of Brazil in recent years has lifted tens of millions of Brazilians from poverty to upper middle class citizens (U.S. Dept. of State, 2011). This has increased domestic consumption (a component of aggregate demand) and therefore the increase in the real gross domestic products as a result of the increases in aggregate supply and demand (Editorial Board, 2011).
“Private markets drive economic growth, tapping initiative and investment to create productive jobs and raise incomes” (The World Bank Group, 2012). As of 2010, the data shows that 135.8% of the gross domestic product is due to domestic credit to the private sector, while an additional percentage of the nation’s GDP is due to merchandise trade at 47.9% and 11.7% of the GDP is contributed to the trade in...