The Brazilian economy shrank a record 11.4 percent year-on-year in the second quarter of 2020, following a 0.3 percent contraction in the previous period and compared with market forecasts of a 10.7 percent plunge, officially entering a recession amid the coronavirus pandemic. The services sector slumped 11.2 percent, after dropping 0.5 percent in the prior quarter, mainly transportation & storage (-20.8% vs -1.6%), trade (-14.1% vs 0.4%), public administration, health, defense & social security (-8.6% vs -0.4%) and other activities (-23.6% vs -3.4%). In addition, industrial output plunged 12.7 percent, following a 0.1% fall in the first quarter, in particular manufacturing (-20% vs -0.8%), construction (-11.1% vs -1%) and utilities (-5.8% vs -1.8%). Also, output growth slowed in the primary sector (1.2% vs 1.9%). On a quarterly basis, the economy contracted 9.7%, the most on record, following an upwardly revised 2.5% decline in the prior period. source: Instituto Brasileiro de Geografia e Estatística (IBGE)

GDP Annual Growth Rate in Brazil averaged 2.36 percent from 1991 until 2020, reaching an all time high of 10.10 percent in the first quarter of 1995 and a record low of -11.40 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 2020.

GDP Annual Growth Rate in Brazil is expected to be -8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Brazil to stand at 5.00 in 12 months time. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 3.20 percent in 2021 and 2.50 percent in 2022, according to our econometric models.

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Brazil GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-11.40 -0.30 10.10 -11.40 1991 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-12-03 12:00 PM Q3 1.2% 1.1% 1% 0.9%
2020-03-04 12:00 PM Q4 1.7% 1.2% 1.5% 1.3%
2020-05-29 12:00 PM Q1 -0.3% 1.7% -0.4% -0.5%
2020-09-01 12:00 PM Q2 -11.4% -0.3% -10.7% -10%
2020-12-03 12:00 PM Q3 -11.4% -8%
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News Stream
Brazilian Economy Enters Recession
The Brazilian economy shrank a record 11.4 percent year-on-year in the second quarter of 2020, following a 0.3 percent contraction in the previous period and compared with market forecasts of a 10.7 percent plunge, officially entering a recession amid the coronavirus pandemic. The services sector slumped 11.2 percent, after dropping 0.5 percent in the prior quarter, mainly transportation & storage (-20.8% vs -1.6%), trade (-14.1% vs 0.4%), public administration, health, defense & social security (-8.6% vs -0.4%) and other activities (-23.6% vs -3.4%). In addition, industrial output plunged 12.7 percent, following a 0.1% fall in the first quarter, in particular manufacturing (-20% vs -0.8%), construction (-11.1% vs -1%) and utilities (-5.8% vs -1.8%). Also, output growth slowed in the primary sector (1.2% vs 1.9%). On a quarterly basis, the economy contracted 9.7%, the most on record, following an upwardly revised 2.5% decline in the prior period.
2020-09-01
Brazil Economy Shrinks for 1st Time in Over 3 Years
The Brazilian economy shrank 0.3 percent year-on-year in the first quarter of 2020, after expanding 1.7 percent in the previous period and compared with market expectations of a 0.4 percent decline. It was the first and sharpest contraction since Q4 2016, as the coronavirus pandemic began to hit the economy. The services sector shrank 0.5 percent, following a 1.6 percent expansion in the prior quarter, in particular transportation & storage (-1.6% vs 1%), public administration, health, defense & social security (-0.4% vs 0.4%) and other activities (-3.4% vs 1.5%). Also, industrial output dropped 0.1%, after growing 1.5% in Q4 2019, mainly due to manufacturing (-0.8% vs 1.1%), construction (-1% vs 1%) and utilities (-1.8% vs -0.8%). In contrasts, the primary sector expanded 1.9 percent, faster than a 0.4 percent. On a quarterly basis, the economy contracted 1.5 percent, the most since Q2 2015, after a 0.5 percent growth in the prior period.
2020-05-29
Brazilian Economy Expands the Most in 2 Years
The Brazilian economy advanced 1.7 percent year-on-year in the last quarter of 2019, following a 1.2 percent growth in the previous period and beating market expectations of a 1.5 percent expansion. It was the strongest growth rate since the fourth quarter of 2017, as industrial output expanded 1.5 percent, faster than a 1 percent gain boosted by manufacturing (1.1 percent vs 0.5 percent in Q3). Also, the services sector advanced 1.6 percent, after growing 1 percent in the prior quarter, mainly driven by transportation & storage (1 percent vs -1 percent); information & communication (4.6 percent vs 4.2 percent); financial activities (3 percent vs 1.3 percent); and public administration, health, defense & social security (0.4 percent vs -0.6 percent). On a quarterly basis, the GDP rose 0.5 percent, easing from a 0.6 percent expansion. Considering full 2019, the economy grew 1.1 percent, the slowest growth rate in three years.
2020-03-04
Brazil GDP Annual Growth Beats Expectations
The Brazilian economy expanded 1.2 percent year-on-year in the third quarter of 2019, following a revised 1.1 percent growth in the previous period and beating market consensus of 1.0 percent. The industry sector grew 1.0 percent despite a contraction in manufacturing, led by construction and mining, and services output advanced also 1.0 percent, boosted by information & communication, trade, real estate, and financial activities.
2019-12-03

Brazil GDP Annual Growth Rate
Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.