Brazil Industry and Services Shrink in First Quarter

Brazil’s Gross Domestic Product (GDP) – the sum of all goods and services produced in the country – rose 0.3% in the first quarter of 2005, in comparison with the last quarter of 2004.

This was the smallest increase since the second quarter of 2003, when the economy grew 0.1%, according to information released today by the Brazilian Institute of Geography and Statistics (IBGE). In relation to the first quarter of 2004, growth amounted to 2.9%.


The IBGE data show that between January and March of this year agriculture was the only sector that registered growth (2.6%) when compared with the same period last year. Industry fell 1%, and services, 0.2%.


Exports continued the trend that began in the second quarter of 2003 and grew 3.5% in the first quarter of this year. Imports, which increased for the sixth consecutive quarter, were up 2.3%.


Investments in the country fell 3.0% in the first quarter of the year, compared with the last quarter of 2004. Based on the same comparison, family consumption was down 0.6%, and government expenditures fell 0.1%.


Agência Brasil

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