As part of the BRICS, the economic development of the country is globally recognized. It ranks as the number one country in Latin America when it comes to economic development. In the past years, the country exhibited rapid growth in economic development. Based on 2019 data, it is considered the ninth-largest economy in the world. The growth can be attributed to its rich natural resources and growth in tourism. Aside from agriculture, the country has established the steel industry. The steel industry is one of the main reasons why other countries demonstrated growth. Its proximity to the north allowed the country to establish a steel partnership with the US. At present, there is a shipbuilding hub in Brazil than other navies around the globe, import. The shipbuilding industry is a perfect indicator that there is a growth in the economy of Brazil. Brazil is a very large country. The vastness of land allows agricultural and economic development to flourish. Moreover, the geographical location, in proximity to North America and Europe, encourages growth. The country is blessed with geography that can exhibit progress overtime. Unlike other countries in Latin America, Brazil has a great potential to become a top economy.