Brazil holds substantial natural resources—vast oil reserves, fertile agricultural lands, rare-earth mineral deposits, and hydroelectric capacity—yet has struggled to translate this wealth into consistent development gains.
The nation's proven oil reserves totaled 16.8 billion barrels at the end of 2024, up six percent from 15.9 billion barrels a year earlier, according to government data. Production has accelerated following the 2006 discovery of ultra-deep "pre-salt" oil reserves beneath the Atlantic Ocean, located under thick layers of ancient salt. Brazil was the eighth-largest crude oil and condensate producer globally in 2021, reaching 3 million barrels per day in September of that year.
More than half of Brazil's electricity comes from hydropower. The country's agricultural sector, developed on highly productive farmland spanning millions of hectares, is positioned to become the world's largest food exporter, surpassing the United States.
Brazil's territory of 8.5 million square kilometers includes the Amazon basin and mineral-rich highlands with deposits of rare-earth elements critical to global commodity markets. The nation's population of 220 million faces persistent obstacles in translating these resources into sustained economic growth and equitable development.
