Brazil GDP Growth Rate 1996-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Brazil contracted 0.60 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Brazil averaged 0.72 Percent from 1996 until 2014, reaching an all time high of 4.50 Percent in the third quarter of 1996 and a record low of -4.20 Percent in the fourth quarter of 2008. GDP Growth Rate in Brazil is reported by the Instituto Brasileiro de Geografia e Estatística (IBGE).


Brazil GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 -0.20 4.50 -4.20 1996 - 2014 Percent Quarterly
Brazil is the seventh largest economy in the world and the largest in Latin America. In recent years, the country has been one of the fastest-growing economies in the world primarily due to its export potential. The country’s trade is driven by its extensive natural resources and diverse agricultural and manufacturing production. Also, rising domestic demand, increasingly skilled workforce along with scientific and technological development, have attracted foreign direct investment. However, bureaucracy, corruption and weak infrastructure remain the biggest obstacles to economic development. This page provides - Brazil GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Brazil GDP Growth Rate - was last refreshed on Wednesday, October 22, 2014.

Brazil May be Braced for a New Leader

The first round of Brazilian presidential elections was held on October 5th and no candidate got more than 50 percent of the votes. As a result, Dilma Rousseff - the current President and Aecio Neves – the leader of center right party will face up on October 26th for the second round. As Brazil’s growth wanes, the elections are dominated by economic agenda which include: tax reforms, foreign trade, inflation and central banks’ independence.

Who is Dilma Rousseff?

Rousseff was born and raised in an upper middle class household in Belo Horizonte. During the Brazilian dictatorship she joined an urban guerrilla group. She was captured and jailed between 1970 and 1972, where she was reportedly tortured. She was one of the founders of the Democratic Labour Party (PDT) in Rio Grande do Sul and later became the Secretary of the Treasury of the City of Porto Alegre. In 2000, Rousseff left the PDT and joined the Workers' Party (PT) where she was invited to become Minister of Energy by President Lula da Silva and later Chief of Staff. She was the first woman in Brazil to become President in 2010. The former president Lula da Silva is one of her main supporters.

Dilma Stands for?

• Rousseff’s strategy focus more on social programmes like “Bolsa Familia” , “Minha Casa", "Minha Vida” supporting directly the poor and less on economic reforms
• She is well known for her ‘anti-inflation policies’ which in fact damaged economic growth. According to the Workers Party, inflation is under control and is expected to come back to the 6.5 percent target in the end of 2014. 
• Under the government of President Dilma Roussef, the central bank has intervened in the foreign exchange markets to protect the currency. During the campaign, she has been saying that “the independence of the central bank means giving to the bankers a great power of decision on interest rates, employment, prices and wages and the central bank should be under the power of the President and the Congress, that are elected by the people”
• Rousseff has been advocating the need to reduce bureaucracy and increase public spending in infrastructure to boost growth. Yet, during her tenure, the public workforce grew to 27.5 percent of total employment in 2013 from 26.25 in 2011.
• Despite the GDP contraction in the first two quarters of 2014, she remains optimistic about the economic recovery. According to the president, the recession is driven by the holidays due to the World Cup and the fall in prices of raw materials. The reduction of the interest rate to stimulate investment was one of the big banners in the first term. Yet, rising inflation may force the central bank to raise the interest rate again. So far, the government started to relieve taxes for the industry and for consumers, trying to stimulating production and consumption.
• Brazil has been under a protectionist regime since president Lula da Silva took power under which Brazilian companies tend to give preference to domestic suppliers even though foreign companies offer better conditions. 
• Rousseff’s agenda strengthens the relationships with Mercosur, Unasur and the Community of Latin America and Caribbean (CELAC). It also puts an emphasis on building stronger relations with African, Asian and the Arab countries. Another promise is to fight for a reform of major international organizations like the UN, the World Bank and the International Monetary Fund.

Carolina Cunha |
10/9/2014 12:00:09 PM

Recent Releases

Who is Aecio Neves?
In the first round of Brazil's presidential election, current President Dilma Rousseff emerged as the front-runner with 41.4 percent of the vote. Yet, the second place surprised many as Aecio Neves - a senator from the state of Minas Gerais, ousted Marina Silva - an environmental leader, with 33.7 percent of the vote. Published on 2014-10-07

Brazilian Economy Slides Into Recession
Brazilian GDP contracted a seasonally adjusted 0.6 percent in the second quarter of 2014, hurt by a fall in investment and government expenditure. Growth figures for the first three months of the year were revised to show a 0.2 percent fall instead of a 0.2 percent expansion. Published on 2014-08-29

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-03 11:00 AM Brazil
GDP Growth Rate QoQ
Q3 2013 -0.5% 1.8% (R) -0.2% 1.34%
2014-02-27 12:00 PM Brazil
GDP Growth Rate QoQ
Q4 2013 0.7% -0.5% 0.3% 0.1%
2014-05-30 01:00 PM Brazil
GDP Growth Rate QoQ
Q1 2014 0.2% 0.4% (R) 0.2% 0.16%
2014-08-29 01:00 PM Brazil
GDP Growth Rate QoQ
Q2 2014 -0.6% -0.2% (R) -0.4% -0.5%
2014-11-28 11:00 AM Brazil
GDP Growth Rate QoQ
Q3 2014 -0.6% 0.62%

Brazil GDP Last Previous Highest Lowest Unit
GDP 2245.67 2248.78 2476.69 15.17 USD Billion [+]
GDP Growth Rate -0.60 -0.20 4.50 -4.20 Percent [+]
GDP Annual Growth Rate -0.90 1.90 10.10 -3.15 Percent [+]
GDP Constant Prices 1271185.94 1204057.67 1293297.00 156930.00 BRL Million [+]
Gross National Product 1182880.22 1262434.87 1262434.87 140820.00 BRL Million [+]
GDP per capita 5823.04 5730.25 5823.04 1726.57 USD [+]
Gross Fixed Capital Formation 209804.87 213127.28 232041.19 31363.00 BRL Million [+]
GDP per capita PPP 14555.08 14323.14 14555.08 9777.23 USD [+]