• Brazil

Overview

Brazil, officially the Federative Republic of Brazil (República Federativa do Brasil), is the largest country in both South America and Latin America. Brazil is the world’s fifth-largest country by area and the sixth-most populous. The capital is Brasília, and the most-populated city is São Paulo. It is the largest country to have Portuguese as an official language and the only one in the Americas. Bounded by the Atlantic Ocean on the east, the nation has a coastline of 7,491 kilometers (4,655 mi). It borders all other South American countries except Ecuador and Chile and covers 47.3% of South America’s land area. Its Amazon River basin includes a vast tropical forest, a variety of ecological systems, and extensive natural resources spanning numerous protected habitats.

Its economy is the world’s eighth-largest by both nominal GDP and GDP (PPP) as of 2017. Brazil has a mixed economy with abundant natural resources. Active in agricultural, mining, manufacturing and service sectors the nation has a labor force of over a 107 million (ranking 6th worldwide) and unemployment of 6.2%.

The country has been expanding its presence in international financial and commodities markets. A member of the BRICs group (Brazil, Russia, India, and China), Brazil until 2010 had one of the world’s fastest growing major economies, with its economic reforms giving the country new international recognition and influence. Its national development bank plays an important role for the country’s economic growth. One of the world’s major breadbaskets, the country has also been the largest producer of coffee for the last 150 years.

Brazil has become the fourth largest car market in the world. Major export products include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. In total, Brazil ranks 23rd worldwide in value of exports.

2019 Brazil Public Holidays

DateNational Holiday
January 1, 2019New Years Day
March 4, 2019Carnival *
March 5, 2019Carnival *
April 19, 2019Good Friday *
April 21, 2019Tiradentes Day
May 1, 2019Labour Day
June 20, 2019Corpus Christi *
September 7, 2019Independence Day
October 12, 2019Our Lady of Asparecida
November 2, 2019All Souls’ Day
November 15, 2019Republic Day
November 20, 2019Black Consciousness Day **
December 25, 2019Christmas Day

* Carnival, Good Friday, and Corpus Christi are optional holidays known as Ponto facultativos.
** Black Consciousness Day holiday is only observed in Rio de Janeiro.

Previous Year: 2018

Fast Facts

  • Capital

    Brasilia

  • Population

    208,385,000 (2017 estimate)

  • Gross Domestic Product

    $3.330 trillion (2018 estimate)

  • Inflation Rate

    2.95% (December 2017)

  • Currency

    Brazilian Real (BRL)

  • Calling Country Code

    +55

  • Time Zone

    UTC -2:00 to -5:00 (observes Daylight Savings Time)

ITOS provides Payroll and Employer of Record (PEO) solutions in Brazil and throughout Latin America. As an international business alliance of service companies we offer fully integrated human resources and payroll solutions that promote collaboration, connectivity and communication throughout an organization.

We serve a variety of multinationals from all over the world in a wide range of industries. Our in country experts ensure your operations are compliant in each country so you can focus on growing the business.

Whether you are looking for better control, increased compliance, and standardized processes across the region or you are expanding to new markets in Brazil, ITOS welcomes you and would be pleased to serve you.