The Brazilian economy shrank 1.1 percent year-on-year in the fourth quarter of 2020, after a 3.9 percent contraction in the previous period and less than an expected 1.6 percent fall. On a quarterly basis, the economy expanded 3.2 percent, following a record 7.7 percent advance in the previous period and above market consensus of a 2.8 percent growth. Both household spending (-3 percent vs -6 percent in Q3) and government spending (-4.1 percent vs -5.3 percent) decreased at a softer pace. In addition, fixed investment rebounded sharply (13.5 percent vs -7.8 percent). Meanwhile, exports fell 4.3 percent (vs -1.1 percent in Q3) and imports decreased 3.1 percent (vs -25 percent). In 2020, the economy plunged 4.1 percent, the steepest annual decline since available records began in 1996, but less than the latest government's official estimate of a 4.3 percent fall. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.31 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 May 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.