Brazil is Latin America’s economic powerhouse. The country has a sophisticated industrial base, plenty of water and energy, and a rich soil that sustains livestock and agricultural activities all year long. Brazil has been historically the largest economy in Latin America and in the Southern Hemisphere in nominal terms. According to the International Monetary Fund (IMF), in 2019 the Brazilian economy was the second largest in the Americas after the United States, and the ninth economy in the world with nominal GDP of US$1.96 trillion. Brazil ranks amongst the largest agricultural producers in the world – it is the world’s first producer and exporter of coffee, sugar cane, oranges, and one of the largest producers of soy beans, corn, and cotton. The country has the world’s largest commercial livestock herd, and is the largest exporter of beef and poultry. Brazil feeds 1.2 billion people every year around the world. The country is also a major player in the biofuels industry, and an industrial nation that benefits from its mineral ore wealth, including petroleum. The country is the world’s second larger exporter of iron and one of the main producers of aluminum. Brazil continues to expand its relevance in the textile, aeronautics, pharmacy, automobile, steel and chemical industry sectors. Although foreign trade only represents a quarter of its GDP, Brazil ranks amongst the top 20 world exporters in the world.