• Categories
  • Archives

Despite Recent Downturn, Brazil’s GDP Totaled US$ 622 Billion Up to September

The Brazilian Institute of Geography and Statistics (IBGE) announced that the Gross Domestic Product (GDP), which represents the sum of goods and services produced in Brazil, amounted to US$ 218.40 billion (497.5 billion reais) in the third quarter of this year (July-September).

During the third quarter of 2004, the GDP totaled US$ 200.62 billion (457 billion reais).

The cumulative GDP for the first three quarters of this year (January-September) comes to US$ 621.63 billion (R$ 1.416 trillion).

Earlier this month, Brazil’s Minister of Development, Industry and Foreign Trade, Luis Fernando Furlan, declared that the drop in GDP growth of 1.2% in the third quarter of this year was not an accident, but "the result of a deliberate effort to clamp down on inflation." Or, in other words, said the Minister, "monetary measures which put a brake on the economy."

Asked what has been worse for the Brazilian economy in 2005, the interest rate or the exchange rate, Furlan responded that on one hand it was certainly the high interest rates, which inhibited sales domestically, while exporters suffered with the valorization of the real.

"We are between a rock and a hard place on the domestic market because of financial costs, while in the export sector we have serious difficulties with profitability because our currency has increased sharply in value against the dollar," declared the Minister.

Furlan pointed out that in spite of the problems some sectors, such as vehicles, were doing very well. But others, such as footwear, were facing big problems. Furlan concluded by saying he was optimistic about 2006.

ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

To Brazil, Argentina Is Not In Default, But Simply in an Impasse

Brazil’s Finance Minister Guido Mantega says he would not classify as default Argentina’s situation ...

Renewed Appetite for Chicken in EU Boosts Brazil Perdigí£o’s Bottom Line

The revenues of food sector company Perdigão, a traditional Brazilian industry in the food ...

Brazilian Architect Shows in the US How to Make Slums Home

Brazilian Jorge Mário Jáuregui, an architect and urban designer who has been working in ...

For Brazilian Government Lula’s Improving Ratings Are Result of Better Life

Brazil’s Minister of Institutional Relations, Jaques Wagner, said, Tuesday, February 14, that positive results ...

Stones Hope to Make History Rocking Free in Brazil for 2 Million

Screams and cheers greeted the Rolling Stones as they pulled up to their beach-front ...

Despite Brazil and Mercosur, Miami Vies to Become FTAA’s Headquarters

Recent trade developments in the Americas continue to renew prospects for a hemisphere-wide trade ...

Green Movement Grows in Brazil a New Crop of Alternative Fertilizers

In the interior of Brazil, in rural properties, the manure of animals in paddocks, ...

NY Times Affair: Brazil in a Major Hangover

If commentaries on the redness of the Brazilian President cheeks and nose have increased ...

Lula Can’t Start Brazil’s Economy

2003 was a lost year in Brazil as the country’s Finance Minister and Central ...

Has the Brazilian Judiciary Become a Mafia?

The Brazilian judiciary has historically been so rife with corruption and nepotism that one ...