The Brazilian economy expanded by 1.2% on quarter in the first quarter of 2021, following a 3.2% rise in the previous period and slightly above market expectations of a 1% growth. It was the third consecutive quarter of expansion, driven by services (0.4% vs 2.7% in Q4) and industry (0.7% vs 1.6%). In addition, agriculture grew 5.7%, the most in four years, after a 1.5% decline in the previous period. On the expenditure side, strong fixed investment (4.6% vs 20% in Q4) more than offset decreases in household consumption (-0.1% vs 3.2%) and government spending (-0.8% vs 0.9%). At the same time, exports rose 3.7% (vs -1.1% in Q4) while imports surged 11.6% (vs 19.3% in Q4). Year-on-year, the GDP rose 1%, following a 1.1% decline in the previous quarter and more than an expected 0.8% increase. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.56 percent from 1996 until 2021, reaching an all time high of 7.80 percent in the third quarter of 2020 and a record low of -9.20 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 June of 2021.
GDP Growth Rate in Brazil is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Brazil to stand at 0.50 in 12 months time. In the long-term, the Brazil GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 0.90 percent in 2023, according to our econometric models.