Brazil’s gross domestic product rose 0.5% on quarter in the three months to December 2021, following two consecutive quarters of contraction, above market expectations of a 0.1% rise and officially exiting a mild recession. The agriculture (5.8%) and services (0.5%) sectors expanded, while industry shrank (-1.2%), dragged down by manufacturing (-2.5%), mining (-2.4%) and utilities (-0.2%). By contrast, construction rose 1.5%. On the expenditure side, household spending rose 0.7%, government spending went up 0.8% and fixed investment grew 0.4%. Meanwhile, net external demand contributed negatively, as exports slumped 2.4% whereas imports increased 0.5%. On a yearly basis, the economy grew by 1.6%, following a 4% expansion in the previous period. Considering the full year of 2021, the Brazilian economy advanced 4.6%, the most since 2010, recovering from a 3.9% pandemic-induced contraction. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.54 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 May of 2022.
GDP Growth Rate in Brazil is expected to be -0.30 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 2023 and 0.90 percent in 2024, according to our econometric models.