BRIC BY BRIC: SPOTLIGHT ON BRAZIL
As a BRIC (Brazil, Russia, India, and China) country with two-thirds the population of the United States, Brazil is the second largest democracy in the Americas. A
recent meeting between Barack Obama and Brazilian president Dilma Rousseff
helped to reinforce an awareness of the importance of a strong economic
bond between the two countries. While no major ground was broken during the meeting (partly due to the non-resolution of Brazil's trade deficit with the U.S.), the acknowledgement of Brazil's progress was the highlight of the day. Advances in science, technology, education, and references to the World Cup and Olympics were all noted and notable.
An invigorated relationship between the U.S. and Brazil has been marked by a number of factors. The opening of more U.S. consulates in
Brazil, a projected increase in the number of Brazilian tourists in the U.S. from 1.5 million
in 2011 to 2.8 million by 2016 ,
and a 234 percent increase in visa issuances during the past five years all serve as proof of a new political and economic interchange between the two countries. Brazil's hosting of
the World Cup in 2014 and the Summer Olympic Games in 2016 is further proof of its empowerment.
But, the bottom line is drawn by the tremendous increase in the trade of goods and services between the two countries. U.S. goods and services trade with Brazil has risen from approximately $30 billion to $100 billion over the past decade; with U.S. exports to Brazil more than doubling from $26.6 billion in 2006 to $62.7 billion in 2011.
While Brazil is currently running a trade deficit with the U.S., America is still one of Brazil's top investors through U.S. direct foreign investment. Along with an increase of wealth comes an increase in demand for U.S. goods and services...
While Brazil's demand for U.S. goods and services continues to grow, the need for the effective tailoring of U.S. websites, product information, and technical documentation for Brazilian consumers has never been greater...
But, the bottom line is drawn by the tremendous increase in the trade of goods and services between the two countries. U.S. goods and services trade with Brazil has risen from approximately $30 billion to $100 billion over the past decade; with U.S. exports to Brazil more than doubling from $26.6 billion in 2006 to $62.7 billion in 2011.
While Brazil is currently running a trade deficit with the U.S., America is still one of Brazil's top investors through U.S. direct foreign investment. Along with an increase of wealth comes an increase in demand for U.S. goods and services...
While Brazil's demand for U.S. goods and services continues to grow, the need for the effective tailoring of U.S. websites, product information, and technical documentation for Brazilian consumers has never been greater...
Brazil is in a "virtuous cycle" of trade with its fellow BRIC members.
