Brazil’s economy may grow from USD 3.1Trn in 2016 to approximately USD 7.5Trn in 2050. Canada is expected to be around USD 3.1Trn by 2050 (where Brazil was in 2016), according to a study by PwC The World in 2050;
The same study forecasts Brazil’s population will grow from around 210 million in 2016 to over 283 million by 2050. This growth alone is more than twice of Canada’s current population;
152 million Brazilians are currently classified as ‘middle class’ and this will grow as Brazil’s GDP per capita is expected to climb steadily through 2050, to approximately USD 31,600 per person. This expansion of the middle class means a much larger market for Canadian goods and services;
Brazil already holds C$ 18.2Bn in direct investments into Canada and its growing economic heft should lead it to seek more investment opportunities;
Brazil is currently the seventh-largest economy in the world but only ranks around 15th amongst Canada’s top trading partners. There is lots of room for growth.