Brazil to rank as world's 6th largest economy

Brazil will surpass Britain to become the sixth largest economy in the world this year, according to a British study published on Monday. The study, published by the Centre for Economics and Business Research (CEBR), shows that the Brazilian GDP for this year will stand at 2.4 trillion U.S. dollars, after that of the U.S., China, Japan, Germany and France, the world's five largest economies. Brazilian Finance Minister Guido Mantega attributed Brazil's rise to its good performance amid the world financial crisis and the crisis's heavier impact on the British economy. Mantega predicted that the Brazilian economy would grow 3 percent to 3.5 percent this year, and 4 percent to 5 percent in 2012. According to statistics released by Brazil's Development, Industry and Trade Ministry on Monday, the country's exports from January to the end of last week reached a record high of 250.3 billion U.S. dollars, up 24 percent from the same period last year. Its trade balance from January to the fourth week of December amounted to 26.8 billion U.S. dollars, up 43.1 percent year-on-year, while its trade surplus is expected to reach 29 billion U.S. dollars in 2011, up from last year's 20.27 billion U.S. dollars. Last year, Brazil was the world's seventh largest economy, registering a 7.5-percent GDP growth.