Rio de Janeiro – The Brazilian Gross Domestic Product (GDP) grew 0.6% in the first quarter of this year as against the last quarter of 2012. The economy has reached R$ 1.11 trillion (US$ 555 billion) in the first quarter of this year.
The growth is the same as observed in the fourth quarter of 2012. In terms of production, the growth of GDP was sustained by the agricultural sector, which recorded expansion of 9.7% in the quarter, over the previous quarter. Services had growth of 0.5%. Industry, in turn, had a 0.3% contraction.
On the side of demand, there was 4.6% increase in the capital stock, which represents investment. Family consumption grew just 0.1%, while government spending remained stable. Exports dropped 6.4%, while imports rose 6.3% in the period.
The figures were disclosed on Wednesday (29) by the Brazilian Institute for Geography and Statistics (IBGE). In comparison with the first quarter of 2012, the Brazilian GDP had growth of 1.9%. In the accumulated result for 12 months, the economy presented growth of 1.2%.
*Translated by Mark Ament
