The Brazilian gross domestic product stalled in the fourth quarter of 2023, extending the revised third-quarter print that also reflected a stall, and missing market expectations of a 0.1% increase. It reflected the first back-to-back quarters without growth since the pandemic-driven economic crisis in the first half of 2020, strengthening the argument for doves in the Central Bank of Brazil and aligning with the central bank’s guidance of repeated rate cuts. Among different industries, the key agricultural sector plummeted by 5.3% from the third quarter, enough to fully offset the expansions for industry (1.3%) and services (0.3%). The GDP expanded by 2.1% compared to the corresponding quarter of the previous year, notching a 2.9% expansion during the whole of 2023. source: Instituto Brasileiro de Geografia e Estatística (IBGE)

The Gross Domestic Product (GDP) in Brazil stagnated 0 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Brazil averaged 0.56 percent from 1996 until 2023, reaching an all time high of 8.00 percent in the third quarter of 2020 and a record low of -9.00 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 April of 2024.

The Gross Domestic Product (GDP) in Brazil stagnated 0 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Brazil is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil GDP Growth Rate is projected to trend around 1.00 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-05 12:00 PM
GDP Growth Rate QoQ
Q3 0.1% 1% -0.2% -0.1%
2024-03-01 12:00 PM
GDP Growth Rate QoQ
Q4 0% 0% 0.1% 0.1%
2024-06-04 12:00 PM
GDP Growth Rate QoQ
Q1 0% 0.1%


Related Last Previous Unit Reference
GDP Growth Rate YoY 2.10 2.00 percent Dec 2023
GDP Constant Prices 321780.84 329395.95 BRL Million Dec 2023
GDP from Agriculture 13754.97 21807.78 BRL Million Dec 2023
GDP from Construction 16505.79 16305.02 BRL Million Dec 2023
GDP from Manufacturing 28922.77 31044.49 BRL Million Dec 2023
GDP from Mining 2841.67 2781.69 BRL Million Dec 2023
GDP from Public Administration 40032.34 40124.52 BRL Million Dec 2023
GDP from Services 202531.76 200721.37 BRL Million Dec 2023
GDP from Transport 8695.92 8881.88 BRL Million Dec 2023
GDP from Utilities 8424.45 8141.22 BRL Million Dec 2023
GDP Growth Rate 0.00 0.00 percent Dec 2023
Gross Fixed Capital Formation 457115.03 455019.84 BRL Million Dec 2023
Gross National Product 2745270.02 2657508.04 BRL Million Dec 2023

Brazil GDP 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 for 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.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 8.00 -9.00 1996 - 2023 percent Quarterly

News Stream
Brazilian GDP Stalls for 2nd Quarter
The Brazilian gross domestic product stalled in the fourth quarter of 2023, extending the revised third-quarter print that also reflected a stall, and missing market expectations of a 0.1% increase. It reflected the first back-to-back quarters without growth since the pandemic-driven economic crisis in the first half of 2020, strengthening the argument for doves in the Central Bank of Brazil and aligning with the central bank’s guidance of repeated rate cuts. Among different industries, the key agricultural sector plummeted by 5.3% from the third quarter, enough to fully offset the expansions for industry (1.3%) and services (0.3%). The GDP expanded by 2.1% compared to the corresponding quarter of the previous year, notching a 2.9% expansion during the whole of 2023.
2024-03-01
Brazilian Economy Escapes Contraction
The Brazilian economy unexpectedly rose 0.1% on quarter in Q3 2023, slowing sharply from a strong expansion in the first half of the year, but escaping a 0.2% contraction markets were forecasting. The industrial sector rose 0.6%, with both manufacturing and mining adding 0.1% while utilities soared 3.6%. Services also gained 0.6%, with financial, insurance (1.3%) and real estate (1.3%) recording the biggest increases. On the other hand, the output from agriculture shrank 3.3%, as the soybean crop which is the largest in Brazil, is concentrated on the first half of the year. On the demand side, both household (1.1%) and government expenditure (0.5%) increased, boosted by public income transfer programs and a continued improvement in the job market. Also, exports remained robust (3%) and imports went down (-2.1%). In contrast, gross fixed capital formation fell for a fourth consecutive quarter (-2.5%) as high interest rates continue to weigh on construction investment and capital goods.
2023-12-05
Brazilian GDP Expands More than Forecasted
The Brazilian GDP expanded by 0.9% in the second quarter of 2023, extending the downwardly revised 1.8% expansion in the first quarter and well above market expectations of a 0.3% growth rate. The result underscored the resilience of the Brazilian economy to the restrictive borrowing costs set by its central bank, which were among the highest real interest rates in the world during the period, benefiting from strong demand for Brazil’s main commodity exports. Growth was largely led by a 0.9% increase in household consumption, extending the 0.7% growth in the previous quarter, while government consumption accelerated to 0.7% growth from 0.4%. In the meantime, exports advanced by a sharp 2.9% from the previous period, while imports surged by 4.5%. Compared with the same period of the previous year, the economy expanded by 3.4%.
2023-09-01