Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) – the sum of all goods and services produced in the country – contracted by 3.8% in 2015 as per non-seasonally adjusted numbers, the sharpest downturn since records started being kept, in 1996. Last year’s economic results were released this Thursday (03) by the Brazilian Institute of Geography and Statistics (IBGE).
In Q4 last year, GDP was down 1.4% from Q3 based on seasonally adjusted figures. GDP in the whole of last year was BRL 5.904 trillion.
The economy contracted virtually across the board in 2015, with Gross Fixed Capital Formation (or investment in capital goods) dropping 14.1%, for instance. Significant contraction was also registered in industry, at 6.2%, and services, at 2.75%. The only area of economy to see growth was agriculture, at 1.8%.
*Translated by Gabriel Pomerancblum
