The Brazilian economy expanded 12.4 percent year-on-year in the second quarter of 2021, the most on record and compared with market expectations of a 12.8 percent growth, rebounding sharply from a steep fall caused by COVID-19 restrictions last year. The industry sector advanced by 17.8 percent, mainly boosted by manufacturing (25.8 percent), in particular by the production of automotive vehicles, other transport equipment, machinery and equipment, and metallurgy. In addition, services activities rose by 10.8 percent on the back of transport, storage and mail (25.3 percent) and trade (20.9 percent), while agriculture increased by 1.3 percent supported by some crop products such as soybeans and rice. On the expenditure side, fixed investment surged 32.9 percent and household consumption climbed 10.8 percent, while net trade contributed negatively to the GDP as exports rose less than imports. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.38 percent from 1991 until 2021, reaching an all time high of 12.40 percent in the second quarter of 2021 and a record low of -10.90 percent in the second quarter of 2020. This page provides - Brazil GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
GDP Annual Growth Rate in Brazil is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 1.90 percent in 2022 and 2.10 percent in 2023, according to our econometric models.