state whether the given sentences in wrongs or right : Iron and steel are the major industries in Brazil
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Answer:
Explanation:
Brazil has a developing mixed economy[27] that is the twelfth largest in the world by nominal Gross Domestic Product (GDP) and eighth largest by purchasing power parity in 2020. According to International Monetary Fund (IMF) estimates, Brazil's 2020 nominal GDP was R$7.348 trillion or US$1.363 trillion. Brazil is the 83rd country in the world in GDP per capita, with a value of US$6,450 per inhabitant.[4] The country has an estimated at Int$20.18 trillion worth of[28] natural resources which includes vast amounts of gold, uranium, iron, and timber.[29][30]
As of late 2010, Brazil's economy is the largest in Latin America[31] and the second largest in the Americas. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world, with an average annual GDP growth rate of over 5%. Its GDP surpassed that of the United Kingdom in 2012, temporarily making Brazil the world's sixth-largest economy. However, Brazil's economic growth decelerated in 2013[32] and the country entered a recession in 2014. The economy started to recover in 2017, with a 1% growth in the first quarter followed by a 0.3% growth in second quarter compared to the same period of the previous year, and officially exited the recession. Brazil has remained stuck in the "middle income trap" and also faces high unemployment.[33][18]
According to the World Economic Forum, Brazil was the top country in upward evolution of competitiveness in 2009, gaining eight positions among other countries, overcoming Russia for the first time, and partially closing the competitiveness gap with India and China among the BRIC economies. Important steps taken since the 1990s toward fiscal sustainability, as well as measures taken to liberalize and open the economy, have significantly boosted the country's competitiveness fundamentals, providing a better environment for private-sector development.[34] In 2020, Forbes ranked Brazil as having the 7th largest number of billionaires in the world.[35] Brazil is a member of diverse economic organizations, such as Mercosur, Unasul, G8+5, G20, WTO, Paris Club and the Cairns Group.
Explanation:
the statement is true. iron and steel are the major industries in Brazil