Rio de Janeiro \u2013 The Brazilian economy grew by 3.4% in 2024, the largest expansion since 2021. The result of gross domestic product was released on Friday morning (7) by statistics agency IBGE.<\/p>\n\n\n\n
The result represents the fourth consecutive year of growth. According to the IBGE<\/a>, Brazil\u2019s GDP reached BRL 11.7 trillion [USD 2 trillion]. In 2023, GDP growth was 3.2%, in 2022 it was 3%, and in 2021 it was 4.8%. In 2021, the comparison base was weak, as the economy shrank by 3.3% in 2020, at the start of the COVID-19 pandemic.<\/p>\n\n\n\n Last year, the services and industrial sectors drove GDP growth, with increases of 3.7% and 3.3%, respectively, compared to 2023. On the other hand, agriculture experienced a decline of 3.2%.<\/p>\n\n\n\n Within industry, construction stood out with a 4.3% increase. The decline in agriculture was driven by various climatic factors that impacted several important crops in Brazil, particularly soybeans (-4.6%) and corn (-12.5%).<\/p>\n\n\n\n GDP can be calculated either from the production or consumption perspective. In terms of consumption, the highlight was household spending, which grew by 4.8%. According to Rebeca Palis, IBGE\u2019s national accounts coordinator, the explanation lies in the availability of income for the population. \u201cFor household consumption, we had a positive combination of factors, such as government income transfer programs, the continued improvement of the job market, and interest rates that were, on average, lower than in 2023,\u201d she analyzes.<\/p>\n\n\n\n Brazil ended 2024 with an unemployment rate of 6.6%, the lowest ever recorded in the country\u2019s history. The GDP per capita, which represents the GDP divided by the number of inhabitants, reached BRL 55,247.45 (USD 9,600.40). There was a 3% increase in GDP per capita in 2024 compared to 2023, adjusted for inflation.<\/p>\n\n\n\n Read more: Translated by Guilherme Miranda<\/strong><\/p>\nProduction and consumption<\/strong><\/h2>\n\n\n\n
<\/em>Brazil, Egypt advance in project at Suez Canal<\/a><\/p>\n\n\n\n