Markets Actual Q1 Q2 Q3 Q4 2022
Currency 5.38 5.44 5.5 5.56 5.61 5.73
Stock Market (points) 118647.09 115575 112059 108650 105348 98744
Government Bond 10Y (%) 8.06 8.04 8.14 8.25 8.36 8.58

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 7.70 0.7 0.5 0.7 0.8 0.8
GDP Annual Growth Rate (%) -3.90 0.6 5 3.5 3.2 2.5
Unemployment Rate (%) 14.10 14.2 14.4 14 13.8 12.4
Inflation Rate (%) 4.56 5 4.6 4.2 3.8 3.5
Inflation Rate Mom (%) 0.25 0.1 0.2 0.3 0.2 0.3
Interest Rate (%) 2.00 2 2 2 2 2.5
Cash Reserve Ratio (%) 21.00 21 21 25 25 25
Balance of Trade (USD Million) -1125.00 3000 5900 6200 3000 3000
Current Account (USD Million) -5400.00 2500 1950 1500 850 500
Current Account to GDP (%) -2.70 0.1 0.1 0.1 0.1 -0.3
Government Debt to GDP (%) 75.79 88 88 88 92 93
Government Budget (% of GDP) -5.90 -10.5 -10.5 -10.5 -10.5 -8.7
Business Confidence (points) 59.50 64 63.3 63 62.8 63
Manufacturing PMI (points) 56.50 65 63 60 58 56
Services PMI (points) 47.00 51.5 51.1 51.3 51.3 50.9
Consumer Confidence (points) 43.80 44 45 47 49 53
Retail Sales MoM (%) -6.10 0.5 0.8 0.4 0.4 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 2022
GDP Growth Rate (%) 7.70 0.7 0.5 0.7 0.8 0.8
GDP Annual Growth Rate (%) -3.90 0.6 5 3.5 3.2 2.5
GDP (USD Billion) 1839.76 1760 1760 1760 1760 1820
GDP Constant Prices (BRL Million) 295173.22 296250 280923 305504 304619 312234
Gross National Product (BRL Million) 1863515.94 1769268 1708866 1928739 1923148 1971227
Gross Fixed Capital Formation (BRL Million) 306322.03 295071 270336 317043 316124 324027
GDP per capita (USD) 11121.74 11100 11100 11100 11100 11200
GDP per capita PPP (USD) 14651.60 14400 14400 14400 14400 14600
GDP From Agriculture (BRL Million) 19543.35 25809 24570 20227 20169 20673
GDP From Construction (BRL Million) 13265.69 12958 12359 13730 13690 14032
GDP From Manufacturing (BRL Million) 31850.09 27897 25010 32965 32869 33691
GDP From Mining (BRL Million) 2845.06 2503 2648 2945 2936 3010
GDP From Public Administration (BRL Million) 37650.96 39239 38466 38969 38856 39827
GDP From Services (BRL Million) 176560.33 178518 171208 182740 182210 186766
GDP From Transport (BRL Million) 7880.38 8117 6921 8156 8133 8336
GDP From Utilities (BRL Million) 6888.16 7027 6799 7129 7109 7286

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 14.10 14.2 14.4 14 13.8 12.4
Employed Persons (Million ) 85.58 83 84 85 87 91
Unemployed Persons (Million ) 14.02 13.8 12.7 12.6 12.5 11.9
Labor Force Participation Rate (%) 56.60 56.8 57.5 58.1 58.8 62
Labour Costs (points) 66.67 85 115 115 115 115
Wages (BRL/Month) 2517.00 2560 2640 2670 2700 2790
Minimum Wages (BRL/Month) 1100.00 1100 1100 1100 1100 1150
Population (Million) 210.15 212 212 212 214 215
Retirement Age Women 62.00 60 60 62 60 60
Retirement Age Men 65.00 65 65 65 65 65
Productivity (points) 66.67 101 105 106 109 113
Non Farm Payrolls (Thousand ) -67.90 40 50 70 70 80
Wages In Manufacturing (BRL/Month) 2551.00 2590 2580 2600 2620 2750
Employment Rate (%) 48.60 48.1 48.6 49 49.5 53

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 4.56 5 4.6 4.2 3.8 3.5
Inflation Rate Mom (%) 0.25 0.1 0.2 0.3 0.2 0.3
Consumer Price Index CPI (points) 5574.49 5616 5570 5618 5772 5974
Core Inflation Rate (%) 2.55 1.8 2.1 2.4 2.7 3.1
Producer Prices (points) 125.60 125 124 126 1087 140
Export Prices (points) 123.18 116 117 117 118 120
Import Prices (points) 102.22 110 110 111 111 112
Food Inflation (%) 14.81 5.8 5.6 5.3 5 3.6
Producer Prices Change (%) 19.70 16 15 13.5 12 7.3
CPI Housing Utilities (points) 9486.68 9592 9526 9635 9954 10302
CPI Transportation (points) 5151.99 5289 5047 5144 5326 5512

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 2.00 2 2 2 2 2.5
Cash Reserve Ratio (%) 21.00 21 21 25 25 25
Foreign Exchange Reserves (USD Million) 355416.00 359000 363000 365000 368000 368000
Banks Balance Sheet (BRL Million) 7807075.16 7920000 7890000 7760000 7500000 7200000
Deposit Interest Rate (%) 1.50 0.89 0.89 0.89 0.89 0.89
Interbank Rate (%) 1.90 2.3 2.4 2.4 2.3 2.7
Loan Growth (%) 1.60 0.9 0.5 0.3 0.3 0.7
Central Bank Balance Sheet (BRL Thousand) 4009339455.00 4190000000 4170000000 4080000000 4020000000 3800000000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) -1125.00 3000 5900 6200 3000 3000
Current Account (USD Million) -5400.00 2500 1950 1500 850 500
Current Account to GDP (%) -2.70 0.1 0.1 0.1 0.1 -0.3
Imports (USD Million) 15933.19 13900 14300 15000 15800 15800
Exports (USD Million) 14807.70 19800 20500 20300 20000 26000
External Debt (USD Million) 620869.79 643000 646000 650000 653000 665000
Terms of Trade (points) 120.50 109 104 105 109 109
Capital Flows (USD Million) -5660.30 300 -500 -600 -750 -1000
Foreign Direct Investment (USD Million) 738.80 2000 2500 2850 3500 4500
Remittances (USD Million) 304.84 287 289 290 290 290
Gold Reserves (Tonnes) 67.36 67.6 67.6 67.6 67.6 67.6
Crude Oil Production (BBL/D/1K) 2754.58 3200 3200 3200 3500 3500
Tourist Arrivals (Thousand) 6353.00 3800 3800 3800 3800 5700
Weapons Sales (USD Million) 10.00 70 70 70 70 70

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 75.79 88 88 88 92 93
Government Budget (% of GDP) -5.90 -10.5 -10.5 -10.5 -10.5 -8.7
Government Budget Value (BRL Million) -75800.00 -100000 -80000 -57000 -55000 -49000
Government Spending (BRL Million) 175744.43 113563 272869 189160 181368 185902
Government Revenues (BRL Million) 159100.00 100000 107000 111000 120000 130000
Military Expenditure (USD Million) 30769.00 29500 29500 29500 29500 29000
Government Debt (BRL Million) 6615755.20 6710000 6750000 6790000 6830000 6900000

Taxes Actual Q1 Q2 Q3 Q4 2022
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 2022
Business Confidence (points) 59.50 64 63.3 63 62.8 63
Manufacturing PMI (points) 56.50 65 63 60 58 56
Services PMI (points) 47.00 51.5 51.1 51.3 51.3 50.9
Composite PMI (points) 48.90 51.5 51 51.5 52.3 51.9
Industrial Production (%) 8.20 1.8 8 2.5 2.2 3
Industrial Production Mom (%) 0.90 0.9 1 0.8 1.1 1.1
Manufacturing Production (%) 10.20 1.5 6 3.3 2.5 2.5
Capacity Utilization (%) 80.60 77.5 76.8 77.1 77.3 78
Total Vehicle Sales 130800.00 158000 161000 169000 176000 176000
Car Production (Units) 199707.00 215000 220000 227000 230000 240000
Car Registrations (Thousand) 171.00 220 240 245 250 260
Leading Economic Index (%) 0.64 0.3 0.5 0.5 0.8 1
Small Business Sentiment 58.50 52 51.3 51.7 52 53.3
Mining Production (%) -3.90 2.5 2.7 2.5 2.5 2.2

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 43.80 44 45 47 49 53
Retail Sales MoM (%) -6.10 0.5 0.8 0.4 0.4 1.1
Retail Sales YoY (%) 1.20 1.1 1.3 1.7 1.9 1.9
Consumer Spending (BRL Million) 1167912.87 1191981 1090257 1208790 1205286 1235418
Consumer Credit (BRL Million) 2238423.00 2200000 2300000 2250000 2200000 2200000
Private Sector Credit (BRL Million) 3794675.00 3810000 3900000 3980000 4070000 4300000
Bank Lending Rate (%) 37.01 38.14 38.14 38.14 38.14 38.14
Households Debt To GDP (% of GDP) 31.40 33 32.7 33 34 37
Gasoline Prices (USD/Liter) 0.85 0.81 0.77 0.73 0.69 0.66

Housing Actual Q1 Q2 Q3 Q4 2022
Housing Index (points) 134.40 132 132 132 132 132


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.