Brazil’s gross domestic product shrank 0.1% on quarter in the three months to September 2021, following an upwardly revised 0.4% contraction in the previous period, compared to market expectations of no growth and officially entering a recession. The agricultural sector slumped 8% amid an unusual drought that disrupted grain production and coffee crops, and as the soybean harvest season ended. Meanwhile, industry showed no growth, as expansion in construction (3.9%) was offset by declines in utilities (-1.1%); manufacturing (-1%) and mining (-0.4%). At the same time, services grew 1.1%. On the expenditure side, fixed investment shrank 0.1% and net external demand contributed negatively, as exports and imports fell 9.8% and 8.3%, respectively. Meanwhile, household consumption rose 0.9% and government spending grew 0.8%. On a yearly basis, the economy grew by 4%, after a record 12.3% expansion in the previous period and slightly below market expectations of a 4.2% rise. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.55 percent from 1996 until 2021, reaching an all time high of 7.80 percent in the third quarter of 2020 and a record low of -8.90 percent in the second quarter of 2020. This page provides - Brazil GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.
GDP Growth Rate in Brazil is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 0.90 percent in 2023, according to our econometric models.