from which year did the difference in contribution of trade in GDP between Brazil and India to on increasing
Answers
Answer:
India and Brazil are both multi-trillion-dollar economies and members of the oft-cited BRIC countries along with Russia and China. While both are among the most-watched emerging markets, the economic fortunes of Brazil and India appear to be on divergent paths. India should continue to gain ground on Brazil unless the South American country confronts difficult political and economic challenges.
Explanation:
Measured by aggregate gross domestic product (GDP), the Indian economy is larger than Brazil's, according to countryeconomy.com. This is mostly because India's population, which reached 1.34 billion in 2015, is significantly larger than Brazil's at 210 million as of 2018. Measured on a per capita basis, however, Brazil is far richer. The estimated GDP per capita in Brazil was $8,919 in 2018, roughly four and a half times larger than India's at $2,009 GDP per capita.
Greater exposure to international markets appears to drive India's growth. According to World Bank data, approximately 19% of India's GDP was generated from exports compared to only 12.5% for Brazil in 2017. International markets and investors triggered an industrial revolution in India during recent decades, allowing cheap Indian labor access to more than just agricultural careers.
Brazil, meanwhile, saw international trade shrink after the U.S. energy boom and a devaluation of the Chinese yuan. The United States and China are Brazil's two largest trading partners and major components of its recent economic structure.