The Brazilian economy is the world’s eighth largest economy, and the largest in Latin America. Brazil has an estimated US$21.8 trillion worth of natural resources which includes gold, uranium, iron, and timber. Per capita incomes are above the Latin American average, but economic growth has slowed significantly and lags behind most of the region. Brazil’s credit rating has recently slipped, and is now on par with the regional average. The business climate is below the regional average.