The Brazilian economy expanded 1.0 percent year-on-year in the second quarter of 2019, following a 0.5 percent growth in the previous period and beating market consensus of 0.7 percent. The services sector continued to grow and agricultural and industrial activities rebounded, as construction output rose for the first time since the first quarter of 2014. GDP Annual Growth Rate in Brazil averaged 2.51 percent from 1991 until 2019, reaching an all time high of 10.10 percent in the first quarter of 1995 and a record low of -5.50 percent in the fourth quarter of 2015.

GDP Annual Growth Rate in Brazil is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Brazil to stand at 1.70 in 12 months time. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

Brazil GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 11:00 AM GDP Growth Rate YoY Q3 1.3% 0.9% 1.6% 1.5%
2019-02-28 12:00 PM GDP Growth Rate YoY Q4 1.1% 1.3% 1.3% 1.2%
2019-05-30 12:00 PM GDP Growth Rate YoY Q1 0.5% 1.1% 0.5% 0.8%
2019-08-29 12:00 PM GDP Growth Rate YoY Q2 1% 0.5% 0.7% 0.6%
2019-12-03 11:00 AM GDP Growth Rate YoY Q3 1% 0.9%



Brazilian Economy Grows 1% YoY in Q2

The Brazilian economy expanded 1.0 percent year-on-year in the second quarter of 2019, following a 0.5 percent growth in the previous period and beating market consensus of 0.7 percent. The services sector continued to grow and agricultural and industrial activities rebounded, as construction output rose for the first time since the first quarter of 2014.

On the production side, services activities advanced 1.2 percent, the same pace as in the first quarter of the year, of which information and communication (3.0 percent vs 3.8 percent), other service activities (1.6 percent vs 1.4 percent), trade (2.1 percent vs 0.5 percent), financial, insurance and related services activities (-0.3 percent vs 0.3 percent), public health, education and social security (-0.1 percent vs 0.5 percent), transport and storage (0.3 percent vs 0.2 percent), and real estate activities (2.7 percent vs 3.0 percent). Additionally, the industrial sector grew 1.2 percent (the same as in Q1), mostly driven by manufacturing (1.6 percent vs -1.7 percent) and construction (2.0 percent vs -2.2 percent). In contrast, mining output dropped 9.4 percent, the sharpest decline on record, after falling 3.0 percent in the prior period and growth slowed in utilities (2.4 percent vs 4.7 percent). Also, agriculture output went up 0.4 percent, rebounding from a 0.1 percent contraction. 

On the expenditure side, household expenditure rose 1.6 percent, higher than a 1.3 percent increase in the frist three months of 2019 and fixed investment jumped 5.2 percent (vs 0.9 percent in Q1). Meanwhile, government spending went down 0.2 percent, after increasing 0.1 percent in the previous quarter.  Exports rose 1.8 percent (vs 1.0 percent in Q1) and imports advanced 4.7 percent (vs -2.5 percent in Q1).

On a quarterly basis, the economy grew 0.4 percent, after shrinking a downwardly revised 0.1 percent in the first three months of the year and also beating market forecasts of a 0.2 percent expansion.


IBGE | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/29/2019 2:53:35 PM



Brazil GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 -0.10 4.00 -3.90 percent [+]
GDP Annual Growth Rate 1.00 0.50 10.10 -5.50 percent [+]
GDP 1868.63 2053.60 2616.20 15.17 USD Billion [+]
GDP Constant Prices 296244.33 290915.92 314900.34 170920.00 BRL Million [+]
Gross National Product 1750128.10 1676582.03 1753529.01 271187.46 BRL Million [+]
Gross Fixed Capital Formation 282665.62 265611.69 291364.92 35403.16 BRL Million [+]
GDP per capita 11026.24 10990.19 11993.48 3417.35 USD [+]
GDP per capita PPP 14282.70 14236.00 15535.60 10093.00 USD [+]
GDP From Agriculture 22227.06 24062.49 24836.99 6923.17 BRL Million [+]
GDP From Construction 13830.93 13326.75 20193.49 10342.31 BRL Million [+]
GDP From Manufacturing 29822.31 27659.12 37408.43 21655.49 BRL Million [+]
GDP From Mining 2343.44 2378.27 2717.82 1096.77 BRL Million [+]
GDP From Public Administration 39921.49 39507.69 40138.00 26246.88 BRL Million [+]
GDP From Services 179131.38 175563.57 187985.48 100853.26 BRL Million [+]
GDP From Transport 8248.21 8104.45 9391.23 5031.39 BRL Million [+]
GDP From Utilities 6824.68 7018.03 7018.03 3667.91 BRL Million [+]


Brazil GDP Annual 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 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. This page provides - Brazil GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.50 10.10 -5.50 1991 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
Spain 2.10 Jun/19
Netherlands 2.00 Jun/19
South Korea 2.00 Jun/19
Saudi Arabia 1.70 Mar/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
Euro Area 1.20 Jun/19
United Kingdom 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Jun/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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