The Brazilian Institute of Geography and Statistics (IBGE) announced that Brazil’s Gross Domestic Product (GDP) increased by 0.4% in the 3rd quarter of 2022 and reached the highest level in the historical series. Compared to the same quarter of the previous year, growth was 3.6%.
These results mark the fifth increase in economic activities in the country and in estimated values, the GDP for the 3rd quarter was R$ 2.544 trillion. Compared to the 2nd quarter, there was a slowdown in growth and Rebeca Palis, coordinator of National Accounts at the IBGE points out two factors for this movement: the distancing from the low base of comparison, caused by the pandemic, and the government’s measures to contain inflation.
The main highlights of GDP in the 3rd quarter were: Imports (5.8%), Exports (3.6%), Investments (2.8%), Government consumption (1.3%), Services (1.1% ), Household consumption (1%), Industry (0.8%) and Agriculture (-0.9%).
