Brazil’s gross domestic product rose 1% on the quarter in the three months to March of 2022, extending the expansionary momentum from the upwardly revised 0.7% increase in the previous period but missing expectations of a 1.2% rise. Growth was driven by a 0.7% advance in household consumption, expanding at a constant rate from the previous period as pandemic related restrictions continued to relax. At the same time, government expenditure was 0.1% higher, easing from the 0.9% increase in the prior quarter. Net external demand contributed positively to the GDP change, as exports gained 5% while imports were 4.6% lower. On the other hand, gross fixed capital formation fell by 3.5%, the steepest decline since Q2 of 2021. On a yearly basis, the economy grew by 1.7%. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.55 percent from 1996 until 2022, 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 June of 2022.
GDP Growth Rate in Brazil is expected to be 0.10 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.