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Economy of Brazil vs Estonia compared: GDP & Debt

Updated on by Georank team

Brazil has a GDP of $2.19T compared to $43.1B for Estonia, ranking 10/197 and 100/197 by economy size, respectively.

Brazil has $1.91T in government debt (87.3% of GDP), compared to $10.1B (23.4% of GDP) in Estonia.

Brazil vs Estonia GDP by year

Brazil
Estonia
1x
Year GDP, current $
Brazil Estonia
2024 $2,185,821,648,944 $43,130,419,829
2023 $2,191,131,869,706 $41,470,344,395
2022 $1,951,923,832,084 $38,226,641,740
2021 $1,670,647,464,063 $37,201,101,171
2020 $1,476,107,292,152 $31,820,771,494
2019 $1,873,288,158,839 $31,873,748,770
2018 $1,916,933,708,353 $31,222,632,741
2017 $2,063,514,688,806 $27,469,461,919
2016 $1,795,693,265,999 $24,561,027,788
2015 $1,802,211,999,456 $23,311,847,751
2014 $2,456,043,766,032 $27,055,689,003
2013 $2,472,819,362,044 $25,451,032,781
2012 $2,465,228,293,707 $23,237,406,116
2011 $2,616,156,606,579 $23,303,915,795
2010 $2,208,838,108,484 $19,524,355,419
2009 $1,666,996,294,252 $19,633,984,440
2008 $1,695,855,391,758 $24,342,935,404
2007 $1,397,114,247,189 $22,450,264,166
2006 $1,107,626,711,163 $17,025,671,810
2005 $891,633,826,625 $14,109,491,357
2004 $669,289,321,945 $12,148,595,031
2003 $558,233,724,165 $9,876,595,528
2002 $509,795,270,685 $7,370,119,619
2001 $559,983,704,094 $6,250,218,423
2000 $655,448,188,259 $5,686,579,748
1999 $599,642,075,004 $5,756,912,266
1998 $863,711,007,325 $5,674,080,543
1997 $883,206,452,795 $5,154,420,649
1996 $850,426,433,004 $4,786,018,988
1995 $769,333,330,412 $4,502,970,889
1994 $525,369,851,354 $4,123,011,420
1993 $368,295,778,245 $4,013,091,682
1992 $328,187,960,872 -
1991 $342,609,231,343 -
1990 $390,725,626,003 -
1989 $412,990,820,287 -
1988 $307,881,930,752 -
1987 $283,056,836,894 -
1986 $256,480,852,471 -
1985 $210,879,844,639 -
1984 $188,339,974,087 -
1983 $189,656,506,321 -
1982 $271,314,113,768 -
1981 $258,015,174,749 -
1980 $237,393,489,893 -
1979 $221,338,204,480 -
1978 $200,278,646,124 -
1977 $176,344,101,402 -
1976 $153,168,949,208 -
1975 $129,203,555,239 -
1974 $109,794,519,728 -
1973 $83,592,275,863 -
1972 $58,434,858,375 -
1971 $48,869,830,902 -
1970 $42,327,664,794 -
1969 $37,171,640,819 -
1968 $33,930,457,425 -
1967 $31,086,389,195 -
1966 $28,283,323,733 -
1965 $22,465,522,884 -
1964 $20,963,733,695 -
1963 $23,287,712,878 -
1962 $19,231,747,852 -
1961 $17,275,940,449 -
1960 $17,030,465,539 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brazil/estonia | CC BY

GDP per capita in Brazil vs Estonia by year

Brazil
GDP per capita

GDP per capita, PPP
Estonia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brazil Estonia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $10,311 $22,338 $31,428 $49,969
2023 $10,378 $21,176 $30,264 $48,637
2022 $9,281 $19,877 $28,340 $48,218
2021 $7,973 $18,076 $27,951 $44,252
2020 $7,074 $16,102 $23,934 $40,672
2019 $9,030 $16,070 $24,021 $40,586
2018 $9,301 $15,464 $23,618 $37,121
2017 $10,081 $14,559 $20,852 $34,507
2016 $8,836 $14,309 $18,666 $31,948
2015 $8,936 $14,821 $17,722 $29,713
2014 $12,275 $15,827 $20,582 $29,404
2013 $12,459 $15,722 $19,310 $27,831
2012 $12,522 $15,198 $17,568 $26,243
2011 $13,397 $15,212 $17,556 $24,652
2010 $11,403 $14,452 $14,664 $21,614
2009 $8,679 $13,391 $14,712 $20,489
2008 $8,908 $13,445 $18,206 $22,804
2007 $7,410 $12,673 $16,745 $22,201
2006 $5,934 $11,751 $12,641 $19,344
2005 $4,828 $11,081 $10,415 $16,638
2004 $3,664 $10,526 $8,916 $14,538
2003 $3,091 $9,802 $7,205 $13,135
2002 $2,856 $9,617 $5,343 $11,667
2001 $3,176 $9,304 $4,503 $10,309
2000 $3,767 $9,092 $4,071 $9,425
1999 $3,494 $8,635 $4,141 $8,412
1998 $5,106 $8,599 $4,093 $8,451
1997 $5,299 $8,602 $3,683 $7,980
1996 $5,179 $8,301 $3,381 $6,892
1995 $4,757 $8,097 $3,134 $6,480
1994 $3,299 $7,727 $2,819 $5,967
1993 $2,349 $7,260 $2,686 $5,814
1992 $2,127 $6,869 - $5,872
1991 $2,258 $6,867 - $7,151
1990 $2,620 $6,688 - $7,481
1989 $2,819 - - -
1988 $2,141 - - -
1987 $2,006 - - -
1986 $1,854 - - -
1985 $1,556 - - -
1984 $1,420 - - -
1983 $1,461 - - -
1982 $2,138 - - -
1981 $2,080 - - -
1980 $1,959 - - -
1979 $1,870 - - -
1978 $1,733 - - -
1977 $1,562 - - -
1976 $1,390 - - -
1975 $1,201 - - -
1974 $1,045 - - -
1973 $815 - - -
1972 $583 - - -
1971 $500 - - -
1970 $444 - - -
1969 $399 - - -
1968 $374 - - -
1967 $351 - - -
1966 $328 - - -
1965 $268 - - -
1964 $257.3 - - -
1963 $294.2 - - -
1962 $250.2 - - -
1961 $231.6 - - -
1960 $235.3 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brazil/estonia | CC BY

Brazil's GDP per capita is $10,311, ranking 85/197, compared to $31,428 in Estonia, ranking 40/197. Adjusted for purchasing power (GDP per capita PPP), Brazil ranks 88th at $22,338, while Estonia ranks 45th at $49,969.

Economic indicators

Brazil Estonia
Gross domestic product
$2.19T
2024
$43.1B
2024
GDP rank
10/197
2024
100/197
2024
GDP growth
3.42%
2023-2024
-0.09%
2023-2024
GDP per capita
$10,311
2024
$31,428
2024
GDP per capita rank
85/197
2024
40/197
2024
GDP per capita, PPP
$22,338
2024
$49,969
2024
GDP per capita PPP rank
88/197
2024
45/197
2024
Government debt
$1.91T
2024
$10.1B
2024
Debt-to-GDP ratio
87.3%
2024
23.4%
2024
Government debt per person
$8,999
2024
$7,356
2024
Government debt per person rank
60/185
2024
65/185
2024
Average annual personal income after taxes
$6,263
2026
$23,740
2026
Market capitalization of domestic companies
$659B
2024
n/a
Number of millionaires
433,000
2025
n/a
Number of billionaires
56
2025
2
2025
Income share by richest 10%
40.8%
2023
23.7%
2023
Income share by poorest 10%
1.3%
2023
3.1%
2023
Government expenditure, % of GDP
45.7%
2024
43.6%
2024
Consumer prices inflation
4.4%
2023-2024
3.52%
2023-2024
Central bank interest rate
15%
2025
n/a
Unemployment rate
6.8%
2024
7.5%
2024
Population
213824938
1339590

Spending and national debt comparison by year

Brazil
Spending

Debt
Estonia
Spending

Debt
1x
Year % of GDP
Brazil Estonia
Government spending Government debt Government spending Government debt
2024 45.7% 87.3% 43.6% 23.4%
2023 45.3% 84% 43.5% 20.1%
2022 43.4% 83.9% 40.1% 19.2%
2021 40.4% 88.9% 42.1% 18.4%
2020 46.2% 96% 44.7% 19.1%
2019 43% 87.1% 39.1% 9.05%
2018 44.2% 84.8% 38.8% 8.51%
2017 44.3% 82.7% 38.9% 9.43%
2016 45.5% 77.4% 38.9% 10.2%
2015 46.2% 71.7% 39.3% 10.8%
2014 41.4% 61.6% 37.6% 11.6%
2013 39.8% 59.6% 38.3% 11.4%
2012 39.3% 61.6% 39.4% 11.1%
2011 39.4% 60.6% 37.6% 7.6%
2010 39.5% 62.4% 40.7% 7.99%
2009 40.5% 64.7% 46.1% 7.98%
2008 39.9% 61.4% 39.5% 4.67%
2007 40.4% 63% 33.8% 3.91%
2006 42.6% 64.6% 33.5% 4.72%
2005 41.9% 67% 33.7% 4.73%
2004 39.7% 68% 34.1% 5.16%
2003 41.3% 71.5% 35% 5.6%
2002 44.5% 76.1% 35.9% 5.66%
2001 39.8% 67.3% 35.3% 4.93%
2000 34.5% 62.2% 36.4% 5.11%
1999 39.6% 44.5% 40.7% 5.93%
1998 40.9% 38.9% 38.9% 5.4%
1997 38.6% 31.8% 35.8% 6.03%
1996 38.2% 30.7% 38.6% 7.3%
1995 - 28% 39.5% 8.66%
1994 - 30% - -
1993 - 32.6% - -
1992 - 37.1% - -
1991 - 38.1% - -
1990 - 40.6% - -
1989 - 40.2% - -
1988 - 46.9% - -
1987 - 50.3% - -
1986 11.7% 49.4% - -
1985 11.1% 52.6% - -
1984 10% 55.8% - -
1983 9.7% 51.5% - -
1982 8.1% 32.8% - -
1981 7.8% 34.6% - -
1980 6.8% 39.7% - -
1979 9% 36.6% - -
1978 10.2% 37% - -
1977 10.4% 31% - -
1976 10.6% 31.8% - -
1975 10.7% 27.7% - -
1974 10.5% 25.7% - -
1973 11% 22.4% - -
1972 12.6% 22.5% - -
1971 11.7% 17.9% - -
1970 11.4% 17% - -
1969 11.2% 16.5% - -
1968 14.4% 15.8% - -
1967 13.5% 13.8% - -
1966 14.6% 19.6% - -
1965 14% 17.6% - -
1964 25.4% 22.2% - -
1963 22.8% 20.4% - -
1962 23.1% 23.7% - -
1961 12% 25.7% - -
1960 13.7% 22.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-02-20).

GeoRank.org/economy/brazil/estonia | CC BY

In 2024, Brazil's government spending was $998B, accounting for 45.7% of its GDP, while Estonia spent $18.8B, or 43.6% of GDP.

Debt-to-GDP ratio is 87.3% in Brazil and 23.4% in Estonia, ranking 38/185 and 171/185, respectively.

Government deficit by year

Deficit/surplus
Brazil

Estonia
1x
Year Deficit/surplus, % of GDP
Brazil Estonia
2024 -6.19% -1.51%
2023 -7.71% -3.13%
2022 -3.96% -1.08%
2021 -2.63% -2.57%
2020 -11.6% -5.42%
2019 -4.86% -0.11%
2018 -6.99% -1.15%
2017 -7.97% -1.07%
2016 -7.99% -0.62%
2015 -9.28% -0.24%
2014 -6.27% 0.42%
2013 -3.42% -0.66%
2012 -2.35% -0.86%
2011 -2.74% 0.09%
2010 -3.55% -1.09%
2009 -4.23% -3.43%
2008 -2.39% -2.92%
2007 -2.66% 2.5%
2006 -4.87% 2.71%
2005 -3.36% 1.07%
2004 -2.95% 2.29%
2003 -5.4% 1.67%
2002 -4.15% 0.29%
2001 -3.47% 0.4%
2000 -3.32% -0.11%
1999 -5.17% -3.42%
1998 -7.22% 0.65%
1997 -5.6% 2.98%
1996 -5.35% -0.93%
1995 - -0.26%
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 -1.6% -
1985 -1.3% -
1984 -0.4% -
1983 0.1% -
1982 1.4% -
1981 1% -
1980 2.5% -
1979 0.4% -
1978 -0.1% -
1977 0.1% -
1976 0.1% -
1975 0% -
1974 0.6% -
1973 0.1% -
1972 -0.1% -
1971 -0.3% -
1970 -0.4% -
1969 -0.6% -
1968 -1.6% -
1967 -2.1% -
1966 -1.3% -
1965 -2% -
1964 -8.79% -
1963 -5.78% -
1962 -6.82% -
1961 -2.93% -
1960 -3.85% -
1959 -0.18% -
1958 -0.76% -
1957 -0.29% -
1956 -0.14% -
1955 -0.62% -
1954 -0.49% -
1953 -1.26% -
1952 0.64% -
1951 0.87% -
1950 -1.58% -
1949 -1.22% -
1948 0.002% -
1947 0.25% -
1946 -1.78% -
1945 -2.87% -
1944 -2.37% -
1943 -0.75% -
1942 -2.55% -
1941 -2.15% -
1940 -1.13% -
1939 -1.2% -
1938 -0.59% -
1937 -1.62% -
1936 -0.27% -
1935 -0.5% -
1934 -2.28% -
1933 -1.56% -
1932 -6.47% -
1931 -1.56% -
1930 -3.58% -
1929 -0.09% -
1928 0.57% -
1927 0.12% -
1926 -0.76% -
1925 -0.07% -
1924 -0.45% -
1923 -1.94% -
1922 -3.8% -
1921 -2.98% -
1920 -3.11% -
1919 -3.69% -
1918 -4.51% -
1917 -4.8% -
1916 -4.35% -
1915 -6.33% -
1914 -7.32% -
1913 -1.91% -
1912 -3.05% -
1911 -2.15% -
1910 -2.06% -
1909 -1.62% -
1908 -1.89% -
1907 0.38% -
1906 0.28% -
1905 0.96% -
1904 -0.62% -
1903 1.79% -
1902 1.59% -
1901 -2.46% -
1900 -5.57% -
1899 -2.13% -
1898 -14% -
1897 -2.38% -
1896 -0.79% -
1895 -1.33% -
1894 -4.11% -
1893 -1.77% -
1892 -2.6% -
1891 0.51% -
1890 -3.02% -
1889 -3.79% -
1888 0.63% -
1887 -0.76% -
1886 -3.8% -
1885 -5.71% -
1884 -3.89% -
1883 -3.33% -
1882 -1.58% -
1881 -1.9% -
1880 -4.84% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–2000, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/brazil/estonia | CC BY

In 2024, Brazil's government deficit, the difference between spending and revenue, was $135B, equivalent to 6.19% of GDP. This compares to Estonia's deficit of $651M, or 1.51% of GDP.

Over the past 30 years, Brazil recorded a fiscal deficit in 29 of those years, while Estonia ran a deficit in 19 years. On average, Brazil posted an annual deficit equal to 5.09% of GDP, compared to deficit of 0.52% of GDP for Estonia.

Inflation comparison by year

Inflation
Brazil

Estonia
1x
Year Consumer prices inflation
Brazil Estonia
2024 4.4% 3.52%
2023 4.6% 9.16%
2022 9.3% 19.4%
2021 8.3% 4.65%
2020 3.2% -0.44%
2019 3.7% 2.28%
2018 3.7% 3.44%
2017 3.4% 3.42%
2016 8.7% 0.15%
2015 9% -0.49%
2014 6.3% -0.11%
2013 6.2% 2.78%
2012 5.4% 3.93%
2011 6.6% 4.98%
2010 5% 2.97%
2009 4.9% -0.08%
2008 5.7% 10.4%
2007 3.6% 6.6%
2006 4.2% 4.44%
2005 6.9% 4.08%
2004 6.6% 3.05%
2003 14.7% 1.33%
2002 8.4% 3.57%
2001 6.8% 5.75%
2000 7% 4.02%
1999 4.9% 3.3%
1998 3.2% 8.21%
1997 6.9% 10.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/brazil/estonia | CC BY

Over the past 28 years, Brazil has recorded an average annual inflation rate of 6.13%, compared with 4.46% in Estonia. In 2024, inflation was 4.4% in Brazil and 3.52% in Estonia.

Top exports between countries

Brazil
Export category Export value
Raw agricultural goods $43.4M
Processed food, beverages & tobacco $17.2M
Raw materials & minerals $16.5M
Weapons & explosives $9.46M
Wood & paper products $7.38M
Machinery & equipment $2.63M
Metals $2.38M
Chemicals & pharma $1.58M
Textiles & consumer goods $795K
Animal & marine products $7K
Estonia
Export category Export value
IT & IP services $21.4M
Transport & tourism services $17.1M
Machinery & equipment $17M
Chemicals & pharma $8.89M
Textiles & consumer goods $2.9M
Business & finance services $2.48M
Metals $2.41M
Wood & paper products $772K
Raw materials & minerals $459K
Processed food, beverages & tobacco $439K

Balance of trade

Brazil Estonia
Current account balance
-$66.2B
2024
-$543M
2024
Current account balance ranking
188/190
2024
107/190
2024
Current account balance, % of GDP
-3.03%
2024
-1.26%
2024
Goods imports
$274B
2024
$22.1B
2024
Goods exports
$340B
2024
$19B
2024
Service imports
$103B
2024
$10.4B
2024
Service exports
$48.1B
2024
$13.6B
2024
Imports of goods and services, % of GDP
17.6%
2024
75.4%
2024
Exports of goods and services, % of GDP
17.9%
2024
75.7%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Brazil Estonia
Economic freedom 52.4 78.7
Economic freedom ranking 148/197 10/197
Property rights 49.2 93.6
Government integrity 37.2 86.3
Judicial effectiveness 55.6 92.4
Tax burden 70.6 77.9
Government spending 39.8 46
Fiscal health 28 93.1
Business freedom 65.7 82.8
Labor freedom 57 59
Monetary freedom 76 73.9
Trade freedom 69 79.4
Investment freedom 40 90
Financial freedom 40 70

Economic freedom comparison by year

Brazil
Estonia
1x
Year Economic freedom index
Brazil Estonia
2026 52.4 78.7
2025 55.1 78.9
2024 53.2 77.8
2023 53.5 78.6
2022 53.3 80
2021 53.4 78.2
2020 53.7 77.7
2019 51.9 76.6
2018 51.4 78.8
2017 52.9 79.1
2016 56.5 77.2
2015 56.6 76.8
2014 56.9 75.9
2013 57.7 75.3
2012 57.9 73.2
2011 56.3 75.2
2010 55.6 74.7
2009 56.7 76.4
2008 56.2 77.9
2007 56.2 78
2006 60.9 74.9
2005 61.7 75.2
2004 62 77.4
2003 63.4 77.7
2002 61.5 77.6
2001 61.9 76.1
2000 61.1 69.9
1999 61.3 73.8
1998 52.3 72.5
1997 52.6 69.1
1996 48.1 65.4
1995 51.4 65.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/brazil/estonia | CC BY

The Economic Freedom Index for Brazil is 52.4, ranking 148/197, compared to 78.7 for Estonia, ranking 10/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Brazil Estonia
Services, % of GDP
59.2%
2024
65.7%
2024
Industry, % of GDP
20.9%
2024
20.1%
2024
Agriculture, forestry, and fishing, % of GDP
5.75%
2024
1.77%
2024
GNI, Atlas method
$2.11T
2024
$39.6B
2024
GNI per capita, PPP
$21,590
2024
$48,880
2024
Total reserves including gold
$330B
2024
$2.07B
2024
Total reserves ranking
11/177
2024
125/177
2024
Net foreign direct investment
-$47.8B
2024
-$285M
2024
Net inflows of foreign direct investment
$74.1B
2024
-$3.44B
2024
Net outflows of foreign direct investment
$26.3B
2024
-$3.72B
2024
Servicing debt to the IMF, % of GNI
5.4%
2024
n/a
Poverty at national poverty lines
4.2%
2020
22.5%
2022
Gross capital formation, % of GDP
17%
2024
24.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/brazil/estonia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–2000, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.