In the 1980s manufacturing peaked at 34% of Brazil’s gdp. In 2020 it was just 11%…
Between 1980 and 2017, manufacturing value added in Brazil in real terms grew by only 24%, compared with 69% in neighbouring Argentina and 204% worldwide.
Brazil’s science-based industries have also lost their share of gdpfaster than expected. In the 1980s Brazil produced 55% of the pharmaceutical ingredients it used. By 2020 this had dropped to 5%.
Here is the full article from The Economist. The problem of course is that Brazil is deindustrializing before its industrialization had the chance to build a stable middle class.