Last year Brazil’s economy briefly overtook that of the United Kingdom to become the world’s sixth-largest. By the end of 2012, the United Kingdom’s economy—with a value of US$2.4 trillion—edged out Brazil’s—with a value of US$2.28 trillion—to gain back its sixth place ranking. However, that still leaves Brazil in 7th place in the world economic ranking, and a lot of markets within the country are showing impressive growth. Here’s a look at them.
According to the consulting firm Jato Dynamics, Brazil is the #4 market in the world for cars, behind China (#1), the United States (#2) and Japan (#3). In 2012 the Brazilian car market grew by 6.1% and had overall sales of 3.63 million units.
Consulting firm Capgemini reports that Brazil is the world’s second-largest market in the world for credit and debit cards in terms of the amount of transactions. In 2010 the country registered more than 20 billion transactions, much more than the 13 billion transactions registered in the other BRIC countries, Russia, India and China.
In 2012 Brazil led the world in the consumption of perfumes and deodorants, according to Associação Brasileira da Indústria de Higiene Pessoal, Perfumaria e Cosméticos (Brazilian Association of the Personal Hygiene, Perfume and Cosmetics Industry). In 2012 fragrance sales in Brazil were R$ 5.4 billion (US$2.7 billion) and R$ 3.3 billion (US$1.65 billion). When measuring sales beyond these two specific categories to factor in beauty products in general, Brazil is the world’s #3 market behind the United States and Japan. That said, consulting firm AT Kearney projects that beauty product sales in Brazil will surpass US$50 billion in 2013 and that country will move ahead of Japan to become the world’s #2 beauty products market.
Brazil now ranks fourth in the world in terms of information technology (IT) spending, with a total spend of more than US$233 billion in 2012—an amount that represents 51% of the total spent on IT in Latin America. In 2011 the country was #7 in the world, yet in a year it moved up 3 rankings; currently Brazil has double the IT spend of both Russia and India.
Brazil is now the #2 market in the world for pet products. In 2012 sales of pet products in Brazil reached R$ 14 billion (US$7 billion), an increase of 16% compared to 2011.
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