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A reported blog on happenings around Latin America.

Brazil to become world's sixth largest economy

The Brazilian economy will overtake the UK's by the end of the year.
Latam stocks 2011 09 27Enlarge
The West's gone down, but LatAm keeps rising. (Yasuyoshi Chiba/AFP/Getty Images)

By the end of the year, Brazil will have the world's sixth largest economy.

With a GDP of $2.44 trillion, it will outrank the United Kingdom for the first time, according to a report was published by Folha de Sao Paulo based on data from the IMF, Economist Intelligence Unit and Business Monitor International.

Brazil could overtake all European economies, including Germany's, by 2020, said the report.

“The fact that the Brazilian economy is overtaking that of the developed countries reflects the effects of the access of large segments of the poor population into the middle class and the consumer market”, said Robert Wood, a U.S. analyst, according to MercoPress.

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