Flag of Brazil Brazil is the largest country in both South America and Latin America and fifth largest in the world. It is a country of great diversity and contrast, from the bustling urban mosaic of São Paulo, the infinite energy of Rio de Janeiro to the wilderness of the Amazon rainforest and world-class landmarks such as the Iguaçu Falls. One of Brazil’s most valuable assets is its dense covering of rainforests known as the “lungs of the world” for the valuable oxygen that they release.