{"id":330645,"date":"2023-06-01T16:25:20","date_gmt":"2023-06-01T19:25:20","guid":{"rendered":"https:\/\/anba.com.br\/economia-brasileira-cresceu-19-no-primeiro-trimestre\/"},"modified":"2023-06-02T18:23:42","modified_gmt":"2023-06-02T21:23:42","slug":"brazils-gdp-up-1-9-in-q1","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazils-gdp-up-1-9-in-q1\/","title":{"rendered":"Brazil\u2019s GDP up 1.9% in Q1"},"content":{"rendered":"

Rio de Janeiro \u2013 Brazil\u2019s Gross Domestic Product (GDP) grew 1.9% in the first quarter of 2023 from the last three months of the previous year, reaching BRL 2.6 trillion (about USD 514 billion at the current rate).<\/p>\n

Data was released this Thursday (1) by the Brazilian Institute of Geography and Statistics (IBGE).<\/p>\n

Compared to the first quarter of last year, the Brazilian economy expanded by 4%. In the 12-month period, GDP has accumulated a 3.3% increase.<\/p>\n

As a result, the Brazilian economy is at its highest peak in the historical series, which started in 1996, 6.4% above the pre-pandemic level (last quarter of 2019).<\/p>\n

Sectors<\/strong><\/p>\n

Growth in comparison with the previous quarter was driven by agriculture, up 21.6%. According to the IBGE, the result is mainly explained by the increased production of soybean, the country\u2019s leading grain crop, which accounted for 70% of the gain output in the first quarter and could close this year at a record-breaking high.<\/p>\n

Services, the main sector of the Brazilian economy, also expanded in the period (0.6%), with emphasis on transport and financial activities (both up 1.2%). Industry, in turn, had a 0.1% drop in the period, which, according to the IBGE, represents stability.<\/p>\n

Demand<\/strong><\/p>\n

From the demand perspective, growth was sustained mainly by the external sector. Exports of goods and services fell by 0.4% and imports even more (-7.1%).<\/p>\n

Family consumption (0.2%) and government consumption (0.3%) increased. Investments were down 3.4% in the period, influenced by the monetary policy that made credit more costly.<\/p>\n

Household consumption benefited from the strengthened labor market, higher wages, and reduced inflation in recent months. Growth, however, was constrained by household indebtedness and interest rates.<\/p>\n

Translated by El\u00fasio Brasileiro<\/strong><\/p>\n

\u00a9Silvio Avila\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"

Brazil\u2019s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.<\/p>\n","protected":false},"author":2315,"featured_media":295922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[10274,32848,3308,42480,42481,7608,9756,26178,31928,42477,31930,42478,29060,42479,2769,5504,42482],"class_list":{"0":"post-330645","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-agriculture-en","9":"tag-agropecuaria-en-2","10":"tag-brazil-gdp","11":"tag-brazil-gdp-2023","12":"tag-brazil-gdp-first-quarter","13":"tag-brazilian-gdp","14":"tag-gdp-en","15":"tag-ibge-gdp","16":"tag-pib-brasil-en-2","17":"tag-pib-brasil-2023-en","18":"tag-pib-brasil-primeiro-trimestre-en","19":"tag-pib-brasileiro-en-2","20":"tag-pib-ibge-en","21":"tag-producao-de-soja-en","22":"tag-soy","23":"tag-soybean","24":"tag-soybean-production"},"wps_subtitle":"Brazil\u2019s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/330645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=330645"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/330645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/295922"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=330645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=330645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=330645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}