The Brazilian economy expanded 1% year-on-year in the first quarter of 2021, after a 1.1% contraction in the previous period and beating market estimates of a 0.8% growth. It was the first expansion since the fourth quarter of 2019, driven by industry (3% vs 1.2% in Q4), namely manufacturing (5.6% vs 5%). Also, agricultural activity rebounded sharply (5.2% vs -0.4%). Meanwhile, the services sector shrank less (-0.8% vs -2.2%), helped by trade (3.5%); transport, post & storage (1.3%); information & communication (5.5%), finance & insurance (5.1%) and real estate (3.9%). On the expenditure side, growth was mainly boosted by strong fixed investment (17%) and exports (0.8%). On a quarterly basis, the economy expanded 1.2%, slowing from a 3.2% rise in the fourth quarter and above market consensus of a 1% growth. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.30 percent from 1991 until 2021, reaching an all time high of 10.10 percent in the first quarter of 1995 and a record low of -10.90 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 June of 2021.
GDP Annual Growth Rate in Brazil is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Brazil to stand at 2.40 in 12 months time. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 2.10 percent in 2023, according to our econometric models.