The Brazilian economy expanded at a record 7.7 percent on quarter in the third quarter of 2020, following a record 9.6 percent contraction in the previous period when the coronavirus crisis hit the economy hard. Still, figures came below market forecasts of a 9.9 percent expansion. Industry jumped 14.8 percent, mainly due to manufacturing (23.7 percent), utilities (8.5 percent), construction (5.6 percent) and mining (2.5 percent). The services sector surged 6.3 percent, led by trade (15.9 percent), transportation and storage (12.5 percent) and information and communication (3.1 percent). In contrast, agriculture fell 0.5 percent. Year-on-year, the economy sank 3.9 percent and considering the first three quarters of the year, the GDP is still 5 percent lower than in the same period of 2019. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Growth Rate in Brazil averaged 0.52 percent from 1996 until 2020, reaching an all time high of 7.70 percent in the third quarter of 2020 and a record low of -9.60 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 February of 2021.
GDP Growth Rate in Brazil is expected to be 1.20 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 0.70 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.