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Brazil sees 0.9% GDP growth in 2012
BRASÍLIA (01 March 2013) - The Federative Republic of Brazil announced today that its real gross domestic product (GDP) grew 0.9 percent in 2012. According to new data from the Brazilian Institute of Geography and Statistics (IBGE), the total output of goods and services in Brazil for the year 2012 amounted to R$ 4.40 trillion (approximately US$ 2.25 trillion, using the 2012 average exchange rate). In the fourth quarter of 2012, real GDP rose 0.6 percent over the third quarter in the seasonally adjusted series. This result corresponds to a 2.2 percent growth in annualized rates.
“Although 2012 was a year of global financial crisis, it did not knock on the doors of Brazilians. We had an expansion in total wages, income and employment. It was a good year for the majority of the population, despite a GDP performance below expectations. The 2012 fourth quarter results indicate that the Brazilian economy is in a process of gradual acceleration. This acceleration will continue throughout 2013, which points to an expected growth of between 3 and 4 percent for this year,” said Finance Minister Guido Mantega.
“The 0.5 percent expansion in Gross Fixed Capital Formation in the fourth quarter was positive news, showing the recovery of investments. Available data related to 2013 demonstrates that expansion in investments is a continuing trend,” he added.
Performance in the Fourth Quarter of 2012
Brazil’s 0.6 percent GDP growth recorded in the fourth quarter of 2012 over the previous quarter (in the seasonally adjusted series) includes a 1.1 percent increase in the services sector, a 0.4 percent increase in the industrial sector and a 5.2 percent contraction in the agricultural sector.
Household consumption grew by 1.2 percent in the fourth quarter of 2012 compared to the third quarter. During the same time period, government consumption recorded a 0.8 percent expansion and gross fixed capital formation increased 0.5 percent.
Annual Performance in 2012
Brazil’s economic growth in 2012 was led by the services sector, which grew by 1.7 percent. The industrial sector showed a contraction of 0.8 percent, followed by the agricultural sector with a 2.3 percent decrease.
Highlights on the demand side include government consumption, which increased by 3.2 percent in 2012 over 2011. Household consumption grew by 3.1 percent and gross fixed capital formation recorded a 4.0 decrease over the same period.
Additional details on Brazil’s 2012 full year and 4Q 2012 GDP results are available on the IBGE website at http://www.ibge.gov.br/home/.
SUMMARY TABLE – Brazil GDP at market prices from Q4 2011 to Q4 2012
| Rates (%) | Q4 2011 | Q1 2012 | Q2 2012 | Q3 2012 | Q4 2012 |
|---|---|---|---|---|---|
|
Accumulated in the
year/same period as in the previous year
|
2.7
|
0.8
|
0.6
|
0.7
|
0.9
|
|
Last four quarters/four
immediately previous quarters
|
2.7
|
1.9
|
1.2
|
0.9
|
0.9
|
|
Quarter/same quarter as in the
previous year |
1.4
|
0.8
|
0.5
|
0.9
|
1.4
|
|
Quarter/immediately
previous quarter (seasonally adjusted)
|
0.1
|
0.1
|
0.3
|
0.4
|
0.6
|
Source: Brazilian Institute of Geography and Statistics (IBGE)
About IBGE: The Brazilian Institute of Geography and Statistics (IBGE) is the independent and autonomous agency responsible for statistical, geographic, cartographic, geodetic and environmental information in Brazil.
About SECOM: The Secretariat for Social Communication (SECOM) of the Presidency of the Federative Republic of Brazil is responsible for coordinating the public relations activities for the government of Brazil. For more information on the Federative Republic of Brazil, please visit www.brasil.gov.br. The official social media accounts for the Brazilian State are on Facebook and Twitter at http://www.facebook.com/BrazilGovNews/ and twitter.com/BrazilGovNews.

