The Monitor that signals the Gross Domestic Product (GDP, sum of all goods and services produced in the country) grew 4.7% in 2021. From the production perspective, all three major sectors of activity (agriculture, industry and services) grew in the year, with rates, respectively, of 0.6%, 4.4% and 4.7%. The data were released today (15) by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre/FGV).
According to the coordinator of the GDP-FGV Monitor, Claudio Considera, the Brazilian economy in 2021 compensated for the 2020 drop by growing 4.7%, thanks mainly to the growth of the service sector due to the vaccination against covid-19. All components, both supply and demand, showed growth.
According to the economist, on the supply side, the highlights were construction, transport, information services and other services. On the demand side, the highlight was gross fixed capital formation, with its three elements growing strongly, especially machinery and equipment.
According to the researcher, household consumption, the component with the largest share of demand, grew by 3.4%, with emphasis on the consumption of semi-durable goods. The industry grew by 4.4% in 2021, while in the previous year the drop was 3.4%. The main factors responsible for this growth were the construction and transformation components, which grew, respectively, 9.0% and 4.6% in 2021.
“Despite this year’s growth, GDP is lower than in 2013. In turn, GDP per capita 2021 with a value of R$ 40,712.42 is lower than the value of R$ 41,069.01, prior to the pandemic (2019), and even lower than the value of 2010, of R$ 42,348.22 ”, said in a note, Claudio Considera .
In the quarterly analysis, in the seasonally adjusted series, GDP grew by 0.7% in the fourth quarter, compared to the third quarter. Compared to the fourth quarter of 2020, GDP grew by 1.9%.
