The Brazilian economy advanced 1.7% year-on-year in the first quarter of 2022, picking up from a 1.6% expansion in the previous three-month period but slightly below market expectations of a 1.8% rise. It was the fifth consecutive quarter of economic expansion, driven by a 2.2% increase in household consumption amid higher demand for in-person services as Covid restrictions were relaxed. Also, government expenditure grew by 3.3%. On the other hand, gross fixed capital formation retreated by 7.2%, halting five consecutive quarters of growth amid lower levels of domestic production and imports of capital goods. Meanwhile, net trade contributed negatively to GDP growth, as goods and services imports jumped by 11%, while exports rose at a softer 8.1%. On a seasonally adjusted quarterly basis, the GDP rose 1%, picking up from a 0.7% increase in the previous period. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.39 percent from 1991 until 2022, 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 July of 2022.
GDP Annual Growth Rate in Brazil is expected to be 0.30 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 1.50 percent in 2023 and 2.00 percent in 2024, according to our econometric models.