Rio de Janeiro – Brazil’s Gross Domestic Product (GDP) – the sum of all goods and services produced in the country – was up 1% in Q1 from Q4 2016 as per seasonally adjusted numbers. It was the first quarter-on-quarter increase after two years of shrinkage, with growth fueled strongly by agriculture and livestock farming.
The information was made public this Thursday (1) in Rio de Janeiro by the Brazilian Institute of Geography and Statistics (IBGE). Despite the hike, GDP was down 0.4% year-on-year in Q4, and down 2.3% in the four quarters through Q1 2017.
Agriculture and livestock GDP was up 13.4% in Q1 from Q4, with industry expanding by 0.9%. Services sector GDP remained flat.
According to the IBGE, Q1 GDP was BRL 1.6 trillion (USD ), adjusted to the current exchange rate. Q1 investments amounted to 15.6% of GDP, down from 16.8% in Q1 2016. The savings-to-GDP ratio was 15.7%, up from 13.9% in Q1 2016.
*Translated by Gabriel Pomerancblum