Rio de Janeiro – Brazilian economy grew 0.2% in Q1 over Q4. The Gross Domestic Product (GDP) – the sum of all the goods and services produced in the country – amounted to roughly US$ 537 billion (or R$ 1,2 trillion) between January and March, according to data released this Friday (30th) by the Brazilian Institute of Geography and Statistics (IBGE). When compared to Q1 2013, the GDP increased by 1.9%. In the twelve-month period, economy grew 2.5%.
In comparison to Q4 2013, both agriculture (3.6%) and services (0.4%) grew. On the other hand, industry declined 0.8%. As regards demand, only government’s consumption increased (0.7%), as declines were seen in family’s consumption (-0.1%) and gross domestic formation, i.e. investments (-2.1%). Exports declined by 3.3%, while imports increased by 1.4%.
*Translated by Rodrigo Mendonça
