Markets Actual Q1 Q2 Q3 Q4 2021
Currency 4.39 4.33 4.37 4.42 4.46 4.56
Stock Market (points) 113251.91 112077 110416 108789 107174 103943
Government Bond 10Y (%) 6.57 6.79 6.88 6.97 7.07 7.26

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 0.60 0.6 0.8 0.5 0.8 0.9
GDP Annual Growth Rate (%) 1.20 0.7 0.9 1.5 2.2 2.4
Unemployment Rate (%) 11.00 11.8 11.7 11.6 11.7 11.6
Inflation Rate (%) 4.19 4.1 3.7 3.5 3.4 3.8
Inflation Rate Mom (%) 0.21 -0.2 0.3 0.2 0.2 0.2
Interest Rate (%) 4.25 4.25 4.25 4.25 4.25 6
Cash Reserve Ratio (%) 21.00 25 25 25 25 25
Balance of Trade (USD Million) -1745.04 2500 4600 3700 3000 3000
Current Account (USD Million) -11879.00 -1200 450 230 -3400 -2800
Current Account to GDP (%) -0.77 -1.6 -1.6 -1.6 -1.6 -1.7
Government Debt to GDP (%) 77.22 82 82 82 82 85
Government Budget (% of GDP) -7.10 -7.6 -7.6 -7.6 -7.6 -7.3
Business Confidence (points) 64.80 64 63 62 62 62
Services PMI (points) 52.70 52.1 50.9 50.6 50.9 51
Manufacturing PMI (points) 51.00 50 51 51.7 51 50.5
Consumer Confidence (points) 47.30 51 55 54 53 56
Retail Sales MoM (%) -0.10 0.5 0.8 0.3 1 1
Corporate Tax Rate (%) 34.00 34 34 34 34 30
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5

GDP Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) 0.60 0.6 0.8 0.5 0.8 0.9
GDP Annual Growth Rate (%) 1.20 0.7 0.9 1.5 2.2 2.4
GDP (USD Billion) 1868.63 2150 2150 2150 2150 2250
GDP Constant Prices (BRL Million) 305145.57 293672 299089 307434 311859 319343
Gross National Product (BRL Million) 1789953.33 1680343 1766763 1803378 1829332 1873236
Gross Fixed Capital Formation (BRL Million) 299568.72 259944 276476 301815 306159 313507
GDP per capita (USD) 11026.24 11730 11730 11730 11730 11900
GDP per capita PPP (USD) 14282.70 16500 16500 16500 16500 16500
GDP From Agriculture (BRL Million) 19674.07 24754 23009 19822 20107 20589
GDP From Construction (BRL Million) 14282.02 12998 13515 14389 14596 14947
GDP From Manufacturing (BRL Million) 32265.60 27998 30211 32508 32975 33767
GDP From Mining (BRL Million) 2827.06 2378 2370 2848 2889 2959
GDP From Public Administration (BRL Million) 39927.34 39762 40386 40227 40806 41785
GDP From Services (BRL Million) 183634.54 177205 180620 185012 187674 192179
GDP From Transport (BRL Million) 8719.25 8140 8295 8785 8911 9125
GDP From Utilities (BRL Million) 6551.44 7068 6836 6601 6696 6856

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 11.00 11.8 11.7 11.6 11.7 11.6
Employed Persons (Million ) 94.55 92.9 93.2 93.5 92 92.5
Unemployed Persons (Million ) 11.63 12.3 12 12.1 12 12
Labor Force Participation Rate (%) 61.90 62 62.1 62.1 62.5 62.5
Labour Costs (points) 99.31 100 100 100 115 115
Wages (BRL/Month) 2340.00 2350 2360 2440 2470 2550
Minimum Wages (BRL/Month) 1045.00 1045 1045 1045 1045 1120
Population (Million) 208.49 211 211 211 212 214
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Living Wage Family (BRL/Month) 2360.00 2450 2450 2450 2550 2450
Living Wage Individual (BRL/Month) 1390.00 1500 1500 1500 1550 1550
Non Farm Payrolls (Thousand ) -307.31 20 50 75 -310 80
Productivity (points) 99.31 112 113 114 115 117
Wages High Skilled (BRL/Month) 4730.00 4500 4600 4600 4600 4600
Wages In Manufacturing (BRL/Month) 2341.00 2390 2410 2420 2440 2500
Wages Low Skilled (BRL/Month) 1440.00 1400 1400 1400 1450 1550
Employment Rate (%) 55.10 53.8 54.6 54.7 54.8 55.1

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 4.19 4.1 3.7 3.5 3.4 3.8
Inflation Rate Mom (%) 0.21 -0.2 0.3 0.2 0.2 0.2
Consumer Price Index CPI (points) 5331.42 5390 5407 5416 5501 5710
Core Inflation Rate (%) 3.41 3.7 3.5 3.6 3.7 3.5
Producer Prices (points) 825.95 839 858 850 885 957
Export Prices (points) 123.84 134 135 133 135 135
Import Prices (points) 115.70 122 124 120 124 122
Food Inflation (%) 5.83 3.8 3.7 3.7 3.6 3.8
Producer Prices Change (%) 9.60 8 7.8 7.3 7 8.1
CPI Housing Utilities (points) 9180.90 9228 9312 9528 9441 9800
CPI Transportation (points) 5076.22 5161 5177 5124 5232 5431

Money Actual Q1 Q2 Q3 Q4 2021
Interest Rate (%) 4.25 4.25 4.25 4.25 4.25 6
Cash Reserve Ratio (%) 21.00 25 25 25 25 25
Foreign Exchange Reserves (USD Million) 359394.00 375000 380000 383500 384000 387000
Banks Balance Sheet (BRL Million) 6782615.15 6800000 6850000 6900000 6930000 6980000
Deposit Interest Rate (%) 2.78 3.72 3.72 3.72 3.72 5.22
Loan Growth (%) 1.60 0.3 0.3 0.6 0.5 0.5
Central Bank Balance Sheet (BRL Thousand) 3477860068.00 3700053851 3850000000 3850000000 3850000000 4129251291

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (USD Million) -1745.04 2500 4600 3700 3000 3000
Current Account (USD Million) -11879.00 -1200 450 230 -3400 -2800
Current Account to GDP (%) -0.77 -1.6 -1.6 -1.6 -1.6 -1.7
Imports (USD Million) 16174.87 19000 18500 19000 21500 22200
Exports (USD Million) 14429.84 23500 23100 22700 25000 26000
External Debt (USD Million) 668221.21 697000 697000 685000 734000 734000
Terms of Trade (points) 107.04 110 109 111 109 111
Capital Flows (USD Million) -11969.40 -1450 -700 -420 -1030 -750
Foreign Direct Investment (USD Million) 5618.33 7100 6500 5100 6000 5500
Remittances (USD Million) 260.80 270 275 280 285 270
Gold Reserves (Tonnes) 67.36 67.5 67.5 67.5 67.5 67.6
Crude Oil Production (BBL/D/1K) 2964.00 3000 3000 3200 3200 3500
Weapons Sales (USD Million) 111.00 70 70 70 70 70
Tourist Arrivals (Thousand) 6621.00 6850 6850 6850 6850 6900

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 77.22 82 82 82 82 85
Government Budget (% of GDP) -7.10 -7.6 -7.6 -7.6 -7.6 -7.3
Government Budget Value (BRL Million) -38433.00 -55000 -52000 -50000 -55000 -60000
Government Spending (BRL Million) 206929.46 115906 104741 124374 211482 216557
Government Revenues (BRL Million) 174990.00 144000 119000 120000 146000 148000
Military Expenditure (USD Million) 30769.00 27500 27500 27500 27500 28100
Government Debt (BRL Million) 5500104.16 5700000 5800000 5880000 5880000 5995350

Taxes Actual Q1 Q2 Q3 Q4 2021
Corporate Tax Rate (%) 34.00 34 34 34 34 30
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5
Sales Tax Rate (%) 17.00 17 17 17 17 17
Social Security Rate (%) 39.80 39.8 39.8 39.8 39.8 39.8
Social Security Rate For Companies (%) 28.80 28.8 28.8 28.8 28.8 28.8
Social Security Rate For Employees (%) 11.00 11 11 11 11 11

Business Actual Q1 Q2 Q3 Q4 2021
Business Confidence (points) 64.80 64 63 62 62 62
Services PMI (points) 52.70 52.1 50.9 50.6 50.9 51
Manufacturing PMI (points) 51.00 50 51 51.7 51 50.5
Composite Pmi (Index) 52.20 51.7 52 51.7 51.5 53
Industrial Production (%) -1.20 2 1.8 2.1 2.2 3.2
Industrial Production Mom (%) -0.70 0.6 0.5 0.7 1.1 1.5
Manufacturing Production (%) 0.80 2 2.3 2 2.1 2.9
Capacity Utilization (%) 77.70 78 78 78.5 79 80
Total Vehicle Sales 154572.00 180500 178000 186000 190000 196000
Car Production (Units) 191400.00 260000 267000 266000 265000 270000
Car Registrations (Thousand) 194.00 225 230 235 240 250
Leading Economic Index (%) -0.27 0.5 0.6 0.8 0.8 1.1
Mining Production (%) -12.30 0.8 1.5 1.7 1.5 1.5

Consumer Actual Q1 Q2 Q3 Q4 2021
Consumer Confidence (points) 47.30 51 55 54 53 56
Retail Sales MoM (%) -0.10 0.5 0.8 0.3 1 1
Retail Sales YoY (%) 2.60 2.2 2.7 2.4 2.1 2.3
Consumer Spending (BRL Million) 1188424.60 1135654 1158321 1197338 1214570 1243720
Consumer Credit (BRL Million) 2002505.00 1835314 1882308 1945257 2046560 2095678
Private Sector Credit (BRL Million) 3271236.00 3230000 3260000 3290000 3310000 3420000
Bank Lending Rate (%) 47.27 50.16 50.16 50.16 50.16 51.66
Gasoline Prices (USD/Liter) 1.07 0.95 0.98 1 1.04 1.04

Housing Actual Q1 Q2 Q3 Q4 2021
Housing Index (points) 129.10 130 130 129 130 130


This page has economic forecasts for Brazil including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Brazil economy.