Brazil’s gross domestic product shrank 9.7 percent on quarter in the three months to June 2020, following an upwardly revised 2.5 percent drop in the previous period and compared with forecasts of a 9.4 percent decline. It was the second consecutive quarterly contraction in GDP and the steepest on record, officially entering a recession due to the COVID-19 pandemic and the government measures taken to reduce the spread of the virus. Services activities plunged 9.7%, after decreasing 2.2% in Q1, namely trade (-13% vs -1.4%), transport & storage (-19.3% vs -2.4%), information & communication (-3% vs -2%) and other activities (-19.8% vs -5.3%). Also, the industry sector slumped 12.3%, following a 0.8% fall, in particular manufacturing (-17.5% vs -1.9%), construction (-5.7% vs -3.3%) and utilities (-4.4% vs -0.3%). Additionally, output growth eased in primary activities (0.4% vs 0.5%). Year-on-year, the economy contracted a record 11.4 percent, after shrinking a 0.3 percent in Q1.

GDP Growth Rate in Brazil averaged 0.44 percent from 1996 until 2020, reaching an all time high of 3.80 percent in the third quarter of 1996 and a record low of -9.70 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 October of 2020. source: Instituto Brasileiro de Geografia e Estatística (IBGE)

GDP Growth Rate in Brazil is expected to be 7.30 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 2021 and 0.90 percent in 2022, according to our econometric models.

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Brazil GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.70 -2.50 3.80 -9.70 1996 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-12-03 12:00 PM Q3 0.6% 0.5% 0.4% 0.2%
2020-03-04 12:00 PM Q4 0.5% 0.6% 0.5% 0.4%
2020-05-29 12:00 PM Q1 -1.5% 0.4% -1.5% -1.7%
2020-09-01 12:00 PM Q2 -9.7% -2.5% -9.4% -9.2%
2020-12-03 12:00 PM Q3 -9.7% 7.3%


News Stream
Brazil Q2 GDP Shrinks the Most on Record, Enters Recession
Brazil’s gross domestic product shrank 9.7 percent on quarter in the three months to June 2020, following an upwardly revised 2.5 percent drop in the previous period and compared with forecasts of a 9.4 percent decline. It was the second consecutive quarterly contraction in GDP and the steepest on record, officially entering a recession due to the COVID-19 pandemic and the government measures taken to reduce the spread of the virus. Services activities plunged 9.7%, after decreasing 2.2% in Q1, namely trade (-13% vs -1.4%), transport & storage (-19.3% vs -2.4%), information & communication (-3% vs -2%) and other activities (-19.8% vs -5.3%). Also, the industry sector slumped 12.3%, following a 0.8% fall, in particular manufacturing (-17.5% vs -1.9%), construction (-5.7% vs -3.3%) and utilities (-4.4% vs -0.3%). Additionally, output growth eased in primary activities (0.4% vs 0.5%). Year-on-year, the economy contracted a record 11.4 percent, after shrinking a 0.3 percent in Q1.
2020-09-01
Brazil Q1 GDP Contracts the Most in Nearly 5 Years
The Brazilian economy shrank 1.5 percent on quarter in the first three months of 2020, following a downwardly revised 0.4 percent growth in the previous period and matching market forecasts. It was the first contraction since 2016 and the steepest since Q2 2015, amid the coronavirus pandemic. Services activities contracted 1.6 percent, following a 0.7 percent expansion in the prior quarter, of which trade (-0.8% vs -0.2%), transport & storage (-2.4% vs 1.5%), information & communication (-1.9% vs 1.6%), financial & insurance activities (-0.1% vs 0.8%), and public administration, health & social security (-0.5% vs 1%). Also, the industry sector shrank 1.4 percent, after stalling in the last quarter of 2019, mainly due to mining (-3.2% vs 0.7%), manufacturing (-1.4% vs 0.1%) and construction (-2.4% vs -2.3%). Year-on-year, the GDP fell 0.3 percent, the most since Q4 2016, after growing 1.7 percent in the prior period.
2020-05-29
Brazil Q4 GDP Growth Slows to 0.5% QoQ
The Brazilian economy grew 0.5 percent on quarter in the three months to December 2019, easing from a 0.6 percent expansion in the previous period and matching market forecasts. The industry sector advanced 0.2 percent, slowing from a 0.8 percent growth in the prior quarter, mainly due to construction (-2.5 percent vs 1.6 percent in Q3) and mining (0.9 percent vs 11.5 percent), while manufacturing output rebounded (0.3 percent vs -0.9 percent). On the other hand, services activities expanded 0.6 percent, faster than 0.5 percent in Q3, boosted by transportation & storage (1.2 percent vs 0.1 percent); information & communication (1.9 percent vs 1.2 percent); public administration, health, defense & social security (0.9 percent vs -0.6 percent); and real estate (0.3 percent, the same as in Q3). Year-on-year, the GDP increased 1.7 percent, the most since Q4 2017, after a 1.2 percent expansion. Considering full 2019, the economy grew 1.1 percent, the slowest growth rate in three years.
2020-03-04
Brazilian Economy Expands the Most in Over a Year
The Brazilian economy advanced 0.6 percent on quarter in the three months to September 2019, following an upwardly revised 0.5 percent expansion in the previous period and beating market expectations of 0.4 percent. It was the strongest growth rate since the first quarter of 2018, as industrial and services activities expanded further and the agricultural sector recovered.
2019-12-03

Brazil GDP Growth Rate
Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts for 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.