Brazil's population is expected to peak at 233.2 million in 2047, the local statistics agency said on Wednesday.

According to the Brazilian Institute of Geography and Statistics (IBGE), Brazil's population, which is currently around 208 million, will grow until it reaches 233.2 million in 2047. From then on, it will fall gradually to about 228.3 million by 2060.

The population will be impacted by the fertility rate and migration.

Brazil is witnessing a rise in the number of Venezuelan immigrants.According to IBGE, 58,500 Venezuelans are expected to settle in Brazil's border state of Roraima over the next four years, adding to the 20,500 immigrants who already entered the state between 2015 and 2017.

The fertility rate in Brazil, which has remained relatively stable in the past few years, is expected to drop slightly over the next decades, down from 1.77 children per woman to 1.66 children by 2060.

Brazilians' life expectancy is currently 72.7 years for men and 79.8 years for women, and is projected to rise to 77.9 years for men and 84.2 years for women by 2060.