It has been announced that Brazil is set to overtake the UK as the 6th largest economy in the world. The Latin American giant's GDP for 2011 is expected to hit $2.44 trillion (£1.51 trillion) compared with $2.43 trillion for the UK, the latest monthly forecasts from the Economist Intelligence Unit (EIU) show.
This will see Brazil, which last year overtook Italy to become the world's seventh biggest economy, move up one more place to sixth with the UK falling to seventh.
Robert Wood, the EIU's chief economist on Brazil, said the country's surge up the table owed much to a growing consumer class and a booming trade relationship with China, based on the Asian giant's need for commodities such as soy and iron ore.
