The Brazilian economy shrank 3.9 percent year-on-year in the third quarter of 2020, following a downwardly revised 10.9 percent drop in the previous period and extending the decline for a 3rd straight quarter due to the coronavirus crisis. In Q2, exports went back to contraction (-1.1 percent vs 0.7 percent) and imports shrank at a faster pace (-25 percent vs -14.6 percent). On the other hand, slower decreases were seen for household spending (-6 percent vs -12.2 percent), government spending (-5.3 percent vs -8.5 percent) and investment (-7.8 percent vs -13.9 percent). On a quarterly basis, the economy expanded at a record 7.7 percent, following a record 9.6 percent drop in the previous period. Considering the first three quarters of the year, the GDP is 5 percent lower than in the same period of 2019. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.34 percent from 1991 until 2020, reaching an all time high of 10.10 percent in the first quarter of 1995 and a record low of -10.90 percent in the second quarter of 2020. This page provides - Brazil GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Annual Growth Rate in Brazil is expected to be 0.60 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 3.20 in 12 months time. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 3.20 percent in 2023, according to our econometric models.