Economia brasileira - timeline english

Timeline Brazilian Economy

1500: discovery of Brazil by Portugal
16th Century: Sugar-production in the Northeast, Cattle-Farming
Unitl 17th Century: Monopoly of Sugar for the Portuguese and Dutch
After expansion of sugar in Caribbean downfall of the monopoly and decline in sugar prices.
18th Century: Gold found in Minas Gerais
1808: Napoleonic war forces Portuguese royals to escape to Brazil
1820: Liberal revolution in Portugal, King returns to Lisbon
7.9.1822: Independence of Brazil
Exports declining, economical depression
1830s: Coffee export begins in Rio de Janeiro, expanding to Sao Paulo
1888: Slavery abolished, shortage of labor leads to free immigrant workers
1890s: Coffee most important export product (63% of national export), also sugar, cotton, tobacco, rubber, mostly to the U.S.
1910s: Difficulties during WW I
Economic growth mainly in the Southeast, Amazon area and Northeast stay poor.
1930: Revolution and end of the oligarchic “Old Republic”, begin of Getulio Vargas’ reign
1930s: Great Depression leads to a declining world demand of Coffee, Brazilian economy suffers from that and a large foreign debt.
Government buys huge amount of Coffee and destroys it, to avoid price decreases.
1937: Establishment of the “New Republic” as dictatorship of Vargas
Government makes initial attempts to economic diversification and opens a steel mill
1939-1945: Little investments due to WW II (which Brazil joined in 1942), economic capacities old and outdated.
1945: President Vargas overthrown, democratic government inaugurated.
1945-1962:Growth of basic industries.
Overvaluated exchange-rate and inflation cause increase of imports and decline of exports.
1951: Vargas Government starts policy of exchange controls, giving import-licenses to essential goods, fuels and machinery and discouraging import of consumer goods.
1953: Improved system introduced, domestic-producable goods have higher rates.
1950-1961: Rapid growth (more than 7%