Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) increased by 1% in the first quarter of this year compared to the previous quarter. The data, the official figure for the GDP, was released this Thursday (2) by the Brazilian Institute of Geography and Statistics (IBGE).
Compared with the first quarter of 2021, the country’s economy grew by 1.7%. Data also indicated a 4.7% expansion in the 12-month accumulated result. According to the IBGE, GDP totaled BRL 2.2 trillion (about USD 461 billion at the current rate) in the first quarter of 2022.
The services sector drove growth in the first quarter compared to the fourth quarter of 2021, up 1%. The industry progressed by 0.1%, and agriculture dropped by 0.9%. Household consumption increased by 0.7%, and government consumption advanced by 0.7%. Investments fell by 3.5%. Exports of goods and services expanded by 5%, while imports decreased by 4.6%.
Translated by Elúsio Brasileiro
