Calculation is by the Ministry of Economy, which released an informative note on the performance of economic activity
Brazil’s GDP (Gross Domestic Product) will grow by 3% in 2022 even if economic activity stagnates in the 4th quarter. The conclusion is from Ministry of Economy, which released an informative note this Thursday (1st.Dec.2022). Here’s the full of the document (770 KB).
The Brazilian economy grew by 0.4% in the 3rd quarter of 2022. In the accumulated result for the year, from January to September, it expanded by 3.2% compared to the same period of 2021.
“The statistical load for 2022, considering chained data, is 3.0%. That is, if the variation in the margin of the 4th quarter is null, GDP this year will grow 3.0%”said the Ministry of Economy.
“If growth is 0.2% to 0.4% in the last quarter of this year, the variation will be 3.1%. Higher values would indicate a GDP expansion greater than or equal to 3.2%”he added.
The services sector, up 1.1% in the 3rd quarter of 2022 compared to the same period in 2021, is one of the factors pointed out by the ministry for the growth of the Brazilian economy: “This strong growth allows the service sector to reach the highest level in the historical series”🇧🇷
GDP is the sum of everything the country produced in a given period. The informative note also highlights the 0.8% growth of industry in the quarter in question and pays attention to the 0.9% drop in agriculture.
Household consumption (1%) in the 3rd quarter of this year is also used as a justification for the GDP growth in the period. “It should be noted that quarterly GDP releases are subject to future annual review”said the ministry.
On September 15, the Ministry of Economy had revised the GDP projection in 2022 from 2% to 2.7%.
IBGE REVISES 2021 GDP
O IBGE (Brazilian Institute of Geography and Statistics) revised this Thursday (Dec. 1) GDP growth from 4.6% to 5.0% in 2021. The data is available at national accounts report. Here’s the full of the document (2 MB).
In current values, the Brazilian economy moved BRL 8.9 trillion last year. With this, Brazil once again surpassed the level of economic activity of the pre-covid-19 pandemic period.
In 2020, the 1st year of pandemicthe country recorded drop of 3.3%🇧🇷 The period was marked by impact of social isolation in the world economy.
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