Brazilians Save One Quarter of GDP

Between July and September, Brazilians saved the equivalent of nearly a quarter of all the wealth produced in the country during the period.

A study by the Brazilian Institute of Geography and Statistics (IBGE) shows that the economy’s savings rate in the third quarter of the year amounted to 24.5% of the Gross Domestic Product (GDP).

Last year’s third quarter rate was 25.4% of the GDP. Despite the drop, the figure for this year’s third quarter is still the second best result since 1995, when the IBGE began its Quarterly National Accounts series. It is only surpassed by last year’s figure.

Maria Laura Muanis, an economist at the IBGE, thinks that the country’s savings have reached a high plateau.

"All the economic actors, such as families and the government, are saving more," she added.

ABr

Tags:

Ads

You May Also Like

Brazil’s Petrobras Raises to US$ 7.1 Bi Its Investments Overseas

Brazil’s state oil company Petrobras plans to invest US$ 7.1 billion abroad over the ...

China and Korea Building Steel Mill in Brazil

The future installation of a second steel mill in São LuÀ­s, capital of the ...

Brazil to Encourage Over 5,000 Small Businesses to Export

The Brazilian government intends to introduce 5,200 micro and small businesses in international trade ...

Hyperbole & Reruns

Economic growth might have been higher in 2001 had the government completed various key ...

A family of Brazilian Kanamari Indians

90% of Indians in Brazilian Amazon Area Suffer from Malaria

The Indians of the Javari Valley in the Brazilian Amazon have warned that rates ...

Brazilian Supreme Votes for End to Nepotism in the Courts

As a result of a great effort, nepotism in the Brazilian government has been ...

Economy B. C.*

(*Before Cardoso) The public sector has played a crucial role in Brazil’s economic development. ...

In Contrast to China, Which Sells Commodities, Brazil Offers Fashion

Adding value to shoes and working with medium and high end products is one ...

Paranaguí¡ Wishes to Be Brazil’s Number 1 Meat Exporter

Paranaguá port, in the southern Brazilian state of Paraná, wants to become Brazil's leading ...

Brazil Analysts Lower Direct Foreign Investment Forecast to US$ 35 Billion

Brazilian financial market analysts have once again raised their forecast for 2010 GDP growth, ...