Template:Additional references The economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove development for the subsequent three centuries. Independence was achieved in 1822. Slavery was fully abolished in 1889. Important structural transformations began in the 1930s, when important steps were taken to change Brazil into a modern, industrialized economy.
A socioeconomic transformation took place rapidly after World War II. In the 1940s, only 31.3% of Brazil's 41.2 million inhabitants resided in towns and cities; by 1991, of the country's 146.9 million inhabitants 75.5% lived in cities, and Brazil had two of the world's largest metropolitan centers – São Paulo and Rio de Janeiro. The share of the primary sector in the gross national product declined from 28% in 1947 to 11% in 1992. In the same 1947-92 period, the contribution of industry to GNP increased from less than 20% to 39%. The industrial sector produces a wide range of products for the domestic market and for export, including consumer goods, intermediate goods, and capital goods.
$12,789 (2013) (nominal; 53rd)
Main data source: CIA World Fact Book
Modern history, also referred to as the modern period or the modern era, is the historiographical approach to the timeframe after the post-classical era (known as the Middle Ages). Modern history can be further broken down into the early modern period and the late modern period after the French Revolution and the Industrial Revolution. Contemporary history is the span of historic events that are immediately relevant to the present time. The modern era began approximately in the 16th century.
Some events, while not without precedent, show a new way of perceiving the world. The concept of modernity interprets the general meaning of these events and seeks explanations for major developments.
The Cruzeiro (Portuguese pronunciation: [kɾuˈzejɾu]) was the currency of Brazil from 1942 to 1986 (two distinct currencies) and again between 1990 and 1993. The name refers to the constellation of the Southern Cross, known in Brazil as Cruzeiro do Sul, or simply Cruzeiro. Visible just in the Southern Hemisphere, the Southern Cross is the main astronomical reference to identify the south and is a common cultural icon in Brazilian history.
The first cruzeiro circulated between 1942 and 1967 and had the symbol Cr or ₢ (in Unicode U+20A2 ₢ cruzeiro sign (HTML:
₢)) and the ISO 4217 code BRZ. The ₢ sign was the only proper monetary symbol already created to Brazilian currencies. All the others used combinations of uppercase letters (in some cases, uppercase and lowercase) and the dollar, including the current Brazilian Real, which uses R$ as sign.
The cruzeiro real (, plural: cruzeiros reais) was the short-lived currency of Brazil between August 1, 1993 and June 30, 1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes. The currency had the ISO 4217 code BRR.
The official Brazilian currency since 1994 is the Brazilian real (plural reais, sign R$, code BRL).
Through its history, Brazil had a number of other currencies: