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).
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.
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.