The Brazilian economy expanded 3.2% year-on-year in the second quarter of 2022, picking up from the 1.7% advance in the previous three-month period and surpassing market forecasts of a 2.8% rise. It was the sixth consecutive quarter of economic expansion, driven by a 5.3% rise in household consumption amid strong growth in real income and higher credit for Brazilian companies. Gross fixed capital formation advanced by 1.5% in the period supported by growth in construction and software development, while government expenditures expanded by 0.7%. On the other hand, net foreign demand contributed negatively to growth, as exports fell by 4.8% while imports dropped a softer 1.1%. On a seasonally adjusted quarterly basis, the GDP grew 1.2%, picking up from a 1% advance in the previous period. source: Instituto Brasileiro de Geografia e Estatística (IBGE)
GDP Annual Growth Rate in Brazil averaged 2.39 percent from 1991 until 2022, reaching an all time high of 12.30 percent in the second quarter of 2021 and a record low of -10.70 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 October of 2022.
GDP Annual Growth Rate in Brazil is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil GDP Annual Growth Rate is projected to trend around 1.50 percent in 2023 and 2.00 percent in 2024, according to our econometric models.