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Brazilian economy grows 1% in the 1st quarter, says IBGE

The Gross Domestic Product (GDP), the sum of all goods and services produced in the country, grew 1% in the first quarter of this year, in comparison with the previous quarter. The data was released today (2) by the Brazilian Institute of Geography and Statistics (IBGE).Brazilian economy grows 1% in the 1st quarter, says IBGE

According to the IBGE, GDP totaled R$ 2.2 trillion, in current values, in the first quarter of the year.

In comparison with the first quarter of 2021, the country’s economy grew by 1.7%. The data also show a growth of 4.7% in the accumulated of 12 months.

sectors

The service sector drove growth in the first quarter of this year, compared to the fourth quarter of 2021. The sector grew by 1%. The industry had a variation of 0.1%. Agriculture fell by 0.9% in the period.

From the perspective of demand, the rise in GDP in the period was driven by household consumption, which rose 0.7%. Government consumption changed by 0.7%, while gross fixed capital formation, that is, investments, dropped by 3.5%.

In the external sector, exports of goods and services grew by 5%, while imports dropped by 4.6%.

Article changed at 9:12 am to add information.

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