Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) grew by 1.2% in 2019, think tank Fundação Getulio Vargas (FGV)’s GDP Monitor report shows. According to the survey made public this Tuesday (18), in demand the result was driven by the increase of 2.7% in gross fixed capital formation (investment) and 1.8% in household expenditure.
Imports were also up (1.4%). On the other hand, exports posted a 2.2% decline over the year. In production, the three major sectors (agriculture, manufacturing and services) were up. FGV didn’t made public the growth rate of each sector, though.
But GDP Monitor is not the official index of Brazil’s GDP, which is calculated and made public by the Brazilian Institute of Geography and Statistics (IBGE).
Translated by Guilherme Miranda