Brazil passes UK in GDP
Brazil has overtaken the UK to become the world’s sixth-largest economy, according to a team of economists.world Updated: Dec 27, 2011 01:28 IST
Brazil has overtaken the UK to become the world’s sixth-largest economy, according to a team of economists. The banking crash of 2008 and the subsequent recession has relegated the UK to seventh place in 2011, behind South America’s largest economy, which has boomed on the back of exports to China and the far east.
Russia and India are expected to benefit from a surge in growth over the next 10 years and push the UK into eighth place. Like most economies, India is struggling with high inflation and slowing growth, but its highly educated workforce and skills in growth areas from IT and services to engineering will push the economy into fifth place.
First Published: Dec 27, 2011 01:27 IST