Brazil’s GDP reaches its highest level in 26 years and reaches the highest level in the historical series.

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%).