Brazil has the largest economy in Latin America. The country went through a period of recession in 2015-2018, together with a series of political scandals. More recently, it’s approved various reforms that are expected to have a positive impact, but still not at a pace required to lead the country to a sustained period of growth. Brazil is also challenged with poor infrastructure, heavy bureaucracy, political uncertainty and an expensive tax regime. Despite all that, Brazil offers many opportunities for Canadian exporters and investors:
- a diversified economy and export base;
- growing investment in selected infrastructure segments;
- large population and consumer base;
- a strongly regulated banking system; and
- significant hydrocarbons, mineral, and agricultural wealth.
Export Development Canada (EDC) serves Canadian companies in Brazil and the Southern Cone (Argentina, Paraguay and Uruguay) through our local representations in Rio de Janeiro and São Paulo.