The Brazilian economy advanced by 4% year-on-year in the third quarter of 2021, slowing from a revised record 12.3% expansion in the previous three-month period and slightly below market expectations of a 4.2% rise. It was the third consecutive quarter of economic expansion.The services sector rose by 5.8% and industry grew 1.3%. Meanwhile, agricultural activity plunged 9%, amid lower production of coffee (-22.4%), cotton (-17.5%), corn (-160%), orange (-13.8%) and sugar cane (-7.6%). On the expenditure side, fixed investment grew 18.8%, household consumption rose 4.2% and government spending went up 3.5%. Meanwhile, net trade contributed negatively to the GDP as exports (4%) rose less than imports (20.6%). On a quarterly basis, the GDP shrank 0.1%, following an upwardly revised 0.4% decrease in the previous quarter and compared with market estimates of no growth. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.40 percent from 1991 until 2021, reaching an all time high of 12.30 percent in the second quarter of 2021 and a record low of -10.70 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 December of 2021.
GDP Annual Growth Rate in Brazil is expected to be 4.20 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.