The 2005 All- Brazil Research team

摘要

Agrowing corruption scandal may have left Brazil's government shaky, but its vibrant economy and strengthening currency continue to attract investors. Propelled by booming exports and accelerating con-sumer demand, Brazil's real average annualized GDP grew 4.9 percent in 2004, up from 0.5 percent in 2003; it's expected to grow by 3.3 percent this year, according to the Institute of International Finance, an association of the world's largest banks. The result: record-high trade and current-account surpluses and strong appreciation of the Brazilian real against the dollar — 13.3 percent in 2005 through mid-August, to 2.342 reais to the dollar. For foreign investors, anyway, that helped boost the stock market's 4.7 percent gain for the same period. The Bolsa de Valores de Sao Paulo, or Bovespa, index All contents of this article, including the reproduction rights to the art, are rose 17.8 percent in 2004.