The Brazilian economy expanded 1.9 percent during the first quarter of 2023, reversing the previous period's contraction of 0.1 percent and surpassing market expectations of 1.3 percent growth. The agricultural sector played a key role in driving the expansion, with output surging by 21.6 percent, helped by a solid soybean harvest. In addition, services activity advanced by 0.6 percent, while there was a slight decline of 0.1 percent in industrial production. From the expenditure perspective, household consumption was slightly up by 0.2 percent and government spending increased by 0.3 percent. External demand also made a positive contribution to the GDP, as imports decreased more significantly than exports. By contrast, fixed investment tumbled 3.4 percent. Compared with the same period of the previous year, the economy expanded 4.0 percent. source: Instituto Brasileiro de Geografia e Estatística (IBGE)

GDP Growth Rate in Brazil averaged 0.58 percent from 1996 until 2023, reaching an all time high of 7.90 percent in the third quarter of 2020 and a record low of -8.60 percent in the second quarter of 2020. This page provides - Brazil GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

GDP 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 Growth Rate is projected to trend around 0.50 percent in 2024 and 1.00 percent in 2025, according to our econometric models.

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Brazil GDP Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-03-02 12:00 PM Q4 -0.2% 0.3% -0.2% -0.9%
2023-06-01 12:00 PM Q1 1.9% -0.1% 1.3% 1.0%
2023-09-01 12:00 PM Q2 1.9% 0.3% 0.0%


Related Last Previous Unit Reference
GDP Growth Rate 1.90 -0.20 percent Mar 2023
GDP Annual Growth Rate 4.00 1.90 percent Mar 2023
GDP Constant Prices 320530.49 314917.53 BRL Million Mar 2023
Gross National Product 2472319.62 2501614.89 BRL Million Mar 2023
Gross Fixed Capital Formation 451602.79 488456.05 BRL Million Mar 2023
GDP from Utilities 8098.95 7597.60 BRL Million Mar 2023
GDP from Transport 8996.02 9248.16 BRL Million Mar 2023
GDP from Services 190996.69 199295.29 BRL Million Mar 2023
GDP from Public Administration 39273.62 39334.87 BRL Million Mar 2023
GDP from Mining 2371.69 2557.90 BRL Million Mar 2023
GDP from Manufacturing 27372.48 29668.01 BRL Million Mar 2023
GDP from Construction 15299.06 16045.32 BRL Million Mar 2023
GDP from Agriculture 31567.93 13263.27 BRL Million Mar 2023

Brazil GDP 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 for 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.
Actual Previous Highest Lowest Dates Unit Frequency
1.90 -0.20 7.90 -8.60 1996 - 2023 percent Quarterly

News Stream
Brazil Q1 GDP Growth Beats Forecasts
The Brazilian economy expanded 1.9 percent during the first quarter of 2023, reversing the previous period's contraction of 0.1 percent and surpassing market expectations of 1.3 percent growth. The agricultural sector played a key role in driving the expansion, with output surging by 21.6 percent, helped by a solid soybean harvest. In addition, services activity advanced by 0.6 percent, while there was a slight decline of 0.1 percent in industrial production. From the expenditure perspective, household consumption was slightly up by 0.2 percent and government spending increased by 0.3 percent. External demand also made a positive contribution to the GDP, as imports decreased more significantly than exports. By contrast, fixed investment tumbled 3.4 percent. Compared with the same period of the previous year, the economy expanded 4.0 percent.
2023-06-01
Brazil GDP Sinks 0.2% in Q4
The Brazilian economy contracted 0.2% on quarter Q4 2022, the first decline since mid-2021 and in line with expectations, as high borrowing costs started to weigh. Manufacturing shrank 1.4%, construction 0.7% and utilities 0.4% while gross fixed capital formation sank 1.1%. On the other hand, increases were seen in the farm sector (0.3%) and services (0.2%) while both private and public spending expanded 0.3% each. Net trade also made a positive contribution. Considering full 2022, the GDP grew 2.9% easing from a 5% growth in 2021. The services sector jumped 4.2% and utilities 10.1% amid more favourable fees, while the manufacturing sector contracted 0.3%, the mining one 1.7% due to lower iron ore extraction, and the farm sector went down 1.7%. Meanwhile, household spending increased 4.3% and public expenditure rose 1.5% as former President Bolsonaro boosted social expenses ahead of the election. For 2023, forecasts from a central bank poll point to a 0.8% growth.
2023-03-02
Brazilian GDP Growth Loses Some Momentum
Brazil’s gross domestic product rose 0.4 percent on quarter in the three months to September of 2022, below expectations of a 0.7 percent increase and following a downwardly revised 1.0 percent expansion in the previous period. Private consumption (1.0 percent vs. 2.1 percent in Q2) and gross fixed capital formation (2.8 percent vs. 3.8 percent) eased. Meanwhile, government spending rebounded (1.3 percent vs. -0.9 percent). Regarding net trade, exports advanced 3.6 percent (vs. -2.8 percent in Q2), while imports grew 5.8 percent (vs. 8.7 percent in Q2).
2022-12-01