Markets Actual Q3 Q4 Q1 Q2 2022
Currency 5.33 5.36 5.44 5.52 5.6 5.76
Stock Market (points) 113282.67 107550 103795 100173 96674 90042
Government Bond 10Y (%) 10.99 11.45 11.77 12.09 12.43 13.13

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -0.10 0.7 0.8 0.5 0.6 0.8
GDP Annual Growth Rate (%) 12.40 3.5 3.2 2.2 1.3 1.9
Unemployment Rate (%) 14.10 14 13.8 13.4 13 12.4
Inflation Rate (%) 9.68 10.3 7.6 4.9 4 4
Inflation Rate Mom (%) 0.87 0.3 0.2 0.2 0.2 0.3
Interest Rate (%) 6.25 6.25 7.5 7.75 7.75 7.75
Cash Reserve Ratio (%) 21.00 21 21 21 21 25
Balance of Trade (USD Million) 7700.00 5300 3200 3500 4200 5200
Current Account (USD Million) 1684.00 1500 -3000 -1200 -1500 -5000
Current Account to GDP (% of GDP) -0.72 -0.5 -0.5 -1 -1 -1
Government Debt to GDP (% of GDP) 88.83 98 98 99 99 99
Government Budget (% of GDP) -13.40 -8.5 -8.5 -7 -7 -7
Business Confidence (points) 58.00 60 62.8 58 55 63
Services PMI (points) 55.10 50 49 50.1 51 50.6
Manufacturing PMI (points) 53.60 56 55 57 55 62
Retail Sales MoM (%) 1.20 0.4 0.4 -0.1 0.6 1.1
Corporate Tax Rate (%) 34.00 34 34 30 30 30
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -0.10 0.7 0.8 0.5 0.6 0.8
GDP Annual Growth Rate (%) 12.40 3.5 3.2 2.2 1.3 1.9
GDP (USD Billion) 1444.73 1840 1840 1890 1890 1890
GDP Constant Prices (BRL Million) 300794.30 305504 309873 303840 304705 315761
Gross National Product (BRL Million) 2106052.40 1928739 2044495 2051843 2133431 2083340
Gross Fixed Capital Formation (BRL Million) 390197.76 317043 378370 406209 395270 385559
GDP per capita (USD) 10672.18 11100 11100 11100 11100 11200
GDP per capita PPP (USD) 14063.98 14400 14400 14400 14400 14600
GDP From Agriculture (BRL Million) 23709.96 20227 13866 27579 24018 14129
GDP From Construction (BRL Million) 13315.76 13730 13505 13051 13489 13761
GDP From Manufacturing (BRL Million) 29976.28 32965 32646 29935 30366 33267
GDP From Mining (BRL Million) 2699.13 2945 2746 2510 2734 2798
GDP From Public Administration (BRL Million) 38134.03 38969 39416 38098 38630 40165
GDP From Services (BRL Million) 180632.93 182740 189417 179908 182981 193016
GDP From Transport (BRL Million) 8260.49 8156 8533 8356 8368 8695
GDP From Utilities (BRL Million) 6911.99 7129 7166 7290 7002 7302

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 14.10 14 13.8 13.4 13 12.4
Employed Persons (Million ) 87.79 86 87 88 89 91
Unemployed Persons (Million ) 14.44 13.8 13.3 12.8 12.5 12
Labor Force Participation Rate (%) 57.70 58.1 58.8 58.8 58.8 62
Labour Costs (points) 94.23 100 105 100 110 115
Wages (BRL/Month) 2515.00 2590 2600 2570 2650 2790
Minimum Wages (BRL/Month) 1100.00 1100 1100 1150 1150 1150
Population (Million) 211.82 213 213 215 215 215
Retirement Age Women 62.00 62 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Productivity (points) 94.23 103 105 110 111 100
Non Farm Payrolls (Thousand ) 316.60 120 -310 50 50 -250
Wages In Manufacturing (BRL/Month) 2434.00 2600 2620 2680 2700 2750
Employment Rate (%) 49.60 49 49.5 50 51 52

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 9.68 10.3 7.6 4.9 4 4
Inflation Rate Mom (%) 0.87 0.3 0.2 0.2 0.2 0.3
Consumer Price Index CPI (points) 5876.05 5947 5983 5953 6001 6223
Core Inflation Rate (%) 6.10 2.4 2.7 2.2 2.2 2.8
Producer Prices (points) 152.45 143 1087 145 153 147
Export Prices (points) 122.03 145 130 120 119 120
Import Prices (points) 102.04 112 111 111 100 113
Food Inflation (%) 13.94 10 3.8 3 2.5 3
Producer Prices Change (%) 36.80 20 15 1.5 2 2
CPI Housing Utilities (points) 10278.31 10199 10318 10072 10298 10731
CPI Transportation (points) 5718.04 5445 5521 5738 5773 5742

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 6.25 6.25 7.5 7.75 7.75 7.75
Cash Reserve Ratio (%) 21.00 21 21 21 21 25
Foreign Exchange Reserves (USD Million) 370395.00 354129 356127 358126 360125 364122
Banks Balance Sheet (BRL Million) 8526313.66 8240327 8366157 8491986 8617815 8869474
Loans to Private Sector (BRL Million) 677258.00 703600 713306 723013 732720 752134
Deposit Interest Rate (%) 3.25 3.25 4.5 4.75 4.75 4.75
Interbank Rate (%) 2.68 2.4 2.3 2.4 2.5 2.7
Loan Growth (%) 1.20 2.3 1.6 1.3 0.9 0.7
Central Bank Balance Sheet (BRL Thousand) 3920330117.00 4689334415 4788571198 4887807980 4987044762 5185518327

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) 7700.00 5300 3200 3500 4200 5200
Current Account (USD Million) 1684.00 1500 -3000 -1200 -1500 -5000
Current Account to GDP (% of GDP) -0.72 -0.5 -0.5 -1 -1 -1
Imports (USD Million) 19547.00 15000 15800 16000 15900 15800
Exports (USD Million) 27211.60 20300 19000 19500 20100 21000
External Debt (USD Million) 636720.11 650000 653000 653000 651000 665000
Terms of Trade (points) 119.59 129 117 108 119 106
Capital Flows (USD Million) 1760.10 -600 -750 -750 -850 -1000
Foreign Direct Investment (USD Million) 4500.00 2850 3500 3500 3000 4500
Remittances (USD Million) 322.38 300 290 290 270 290
Gold Reserves (Tonnes) 121.11 67.6 67.6 67.6 67.7 67.6
Crude Oil Production (BBL/D/1K) 2931.75 3000 3200 3200 3500 3500
Tourist Arrivals (Thousand) 6353.00 4500 4500 5500 5500 5500
Weapons Sales (SIPRI TIV Million) 170.00 70 70 70 70 70

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 88.83 98 98 99 99 99
Government Budget (% of GDP) -13.40 -8.5 -8.5 -7 -7 -7
Government Budget Value (BRL Million) -55403.00 -57000 -55000 -50000 -49000 -49000
Government Spending (BRL Million) 158956.73 189160 181368 118584 186474 184814
Government Revenues (BRL Million) 146462.67 159120 186475 158900 142904 193083
Military Expenditure (USD Million) 25101.00 29500 29500 29000 29000 29000
Government Debt (BRL Million) 6797927.95 6790000 6830000 6830000 6890000 6900000

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 34.00 34 34 30 30 30
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5
Sales Tax Rate (%) 17.00 17 17 17 17 17
Social Security Rate (%) 45.70 39.8 39.8 39.8 39.8 39.8
Social Security Rate For Companies (%) 31.70 28.8 28.8 28.8 28.8 28.8
Social Security Rate For Employees (%) 14.00 11 11 11 11 11

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) 58.00 60 62.8 58 55 63
Services PMI (points) 55.10 50 49 50.1 51 50.6
Manufacturing PMI (points) 53.60 56 55 57 55 62
Composite PMI (points) 54.60 50.2 51.5 50.8 51 52.3
Industrial Production (%) 1.20 2.5 2.2 1 2 3
Industrial Production Mom (%) -1.30 0.8 1.1 0.8 0.8 1.1
Manufacturing Production (%) 1.80 6 2.5 3 2.1 2.5
Capacity Utilization (%) 82.30 80.1 80.3 80 80.3 80
Total Vehicle Sales (Units) 119813.00 129000 146000 150000 159000 176000
Car Production (Units) 164027.00 217000 220000 2300000 2350000 240000
Car Registrations (Thousand) 173.00 245 250 240 240 260
Leading Economic Index (%) 0.60 0.5 0.8 1 0.8 1
Small Business Sentiment 61.70 51.7 52 52 52.3 53.3
Mining Production (%) -2.70 2.5 2.5 2.5 2.3 2.2

Consumer Actual Q3 Q4 Q1 Q2 2022
Retail Sales MoM (%) 1.20 0.4 0.4 -0.1 0.6 1.1
Retail Sales YoY (%) 5.70 3.5 2.1 4 1.3 1.9
Consumer Spending (BRL Million) 1253217.86 1208790 1320738 1259913 1269510 1345832
Consumer Credit (BRL Million) 2435668.00 2253560 2284434 2315308 2346182 2407929
Private Sector Credit (BRL Million) 4064928.00 3939654 3969719 3999784 4029850 4089981
Bank Lending Rate (%) 39.81 40.81 42.06 42.31 42.31 42.31
Economic Optimism Index (Index Points) 75.30 75.3 68 67 65 70
Households Debt To GDP (% of GDP) 36.60 37 38 38 37 37
Gasoline Prices (USD/Liter) 1.15 1.09 1.04 0.99 0.94 0.89

Housing Actual Q3 Q4 Q1 Q2 2022
Housing Index (points) 137.70 137 139 140 142 145


This page has economic forecasts for Brazil including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Brazil economy.