Rio de Janeiro – The financial service sector grew more than the Brazilian economy as a whole and had strategic contribution to the recovery of Brazil in the 2008 global crisis. This may be seen in the Annual Service Research 2010, disclosed on Wednesday (26) by the Brazilian Institute for Geography and Statistics (IBGE).
According to the figures, from 2007 to 2008, net operating revenues of the sector grew 11.4%. After the start of the crisis, the sector slowed down and had real growth of 6.1% in 2009. But in 2010 there was a rebound, with growth of 11.2% .
"The year of 2010 was really one of recovery as against the previous year, and we can say that the service sector helped boost the recovery of the economy as a whole,” pointed out IBGE researcher Ana Carla Magni.
She stated that four prominent sectors were: maintenance services and repairs, real estate activities, services provided mainly to families and professional, administrative and complementary services.
The researcher used the data of 992,808 non-financial service companies. According to the IBGE, in 2009, the services that are part of this research answered to 13% of the Gross Domestic Product (GDP) of Brazil, which is the sum of all riches produced in the country. If services as a whole are taken into account, they make up 67% of GDP.
*Translated by Mark Ament
