Import substitution industrialization (ISI) led to significant structural changes in the Latin American economies in the post-World War II era, with the manufacturing sector expanding its share of GDP between 1950 (when it was 19.6%) and 1967 (24.1%). Structural change was particularly significant in the case of Brazil, where industry increased its share in the economy from 19.8% in 1947 to 28% by 1968. In the second half of the 1950s, the Brazilian government enacted a series of policies intended to industrialize the economy. The government gave special attention to industries considered basic for economic growth, specifically the automobile, cement, steel, aluminum, cellulose, heavy machinery, and chemical industries. As a result of ISI, the Brazilian economy experienced rapid growth and diversification. Between 1950 and 1961, the average annual rate of growth in the GDP exceeded 7%, with industry having an average annual growth rate of 9% between 1950 and 1961, compared to 4.5% for agriculture (Hudson 1997). In addition, the structure of the manufacturing sector experienced considerable change. Traditional industries, such as textiles, food products, and clothing, declined, while the transport equipment, machinery, electric equipment and appliances, and chemical industries expanded.