The Brazilian economy grew by 1.1% in the second quarter of this year, compared to the previous quarter, according to the GDP Monitor survey by the Getulio Vargas Foundation (FGV).
According to the study, Brazil’s Gross Domestic Product (GDP) totaled R$5.437 trillion, in current values, in the second quarter.
Compared to the second quarter of 2023, the increase reached 2.9%, according to FGV. The accumulated rate in 12 months is 2.3%.
The 2.9% increase compared to the second quarter of last year was influenced by growth of 5.3% in household consumption, 7.3% in gross fixed capital formation (i.e. investments) and 6.4% in exports.
On the other hand, imports, which are considered a negative value in the GDP calculation, grew 16.3% in the period.
The GDP Monitor is not the official GDP indicator, but serves as a preview of the numbers released by the Brazilian Institute of Geography and Statistics (IBGE), through its Quarterly National Accounts System.
The official GDP for the second quarter will be released by IBGE on September 3rd.
