Brazil became the world’s sixth largest economy in 2011, overtaking the UK, after continuing to see breakneck growth while the UK economy stuttered.
Brazil, whose economy is driven by its vast supply of commodities including oil and iron ore, saw its GDP rise from $2.1trn in 2010 to $2.52trn in 2011, according to the Centre for Economics and Business Research (CEBR).
Meanwhile the UK, where economic growth is still heavily reliant on financial services, saw GDP grow at a much slower rate. It increased from $2.25trn to $2.48trn, leaving the country in seventh place.
Elsewhere, the US continues to dominate the global economy for now, with GDP of $15.1trn, up around $500bn in the last year.
Brazil are now the world's sixth largest economy, with the UK dropping to seventh.
The gap is being closed however, with Chinese growth climbing much more sharply. The world’s second largest economy saw its GDP rise from $5.9trn in 2010 to $7trn in 2011.
Meanwhile, third place Japan saw its economy grow despite the devastating earthquake and tsunami which struck early last year. Its GDP rose from $5.46trn to $5.86trn.
Douglas McWilliams, chief executive of the CEBR, said: “Our league table shows how the world’s economic map is changing, with Asian countries and commodity producing economies climbing up the league while we in Europe fall back.”
The CEBR World Economic League Table 2011
Rank Country $GDP (bns)
1. US $15,065
2. China $6,988
3. Japan $5,855
4. Germany $3,629
5. France $2,808
6. Brazil $2,518
7. UK $2,418
8. Italy $2,246
9. Russia $1,885
10. India $1,843
