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Brazil overtakes UK as sixth biggest economy as Britain falls behind a South American nation for the first time
- Figures show a dramatic illustration of changing global fortunes
- China, Japan, Germany, France and the U.S. occupy the top five places
- Brazil fast-becoming one of the powerhouses of the global economy
By NICK FAGGE
Last updated at 1:01 AM on 26th December 2011
Britain has been deposed by Brazil as the sixth largest economy in the world, latest figures show.
In a dramatic illustration of changing global economic fortunes, the UK has fallen behind a South American nation for the first time.
The figures, from the Centre for Economic and Business Research’s annual world economic league table, show Britain is now the seventh richest country in the world.
The U.S., China, Japan, Germany and France occupy the top five places.
More often associated with football and dirt-poor shanty towns known as favelas, Brazil is fast becoming one of the powerhouses of the global economy.
The largest country in Latin America, its economy has surged because of vast reserves of natural resources and a rapidly growing, and cash-rich, middle class.