Led by Industry Economy Grows 5.4% in Brazil

Brazilian industry The Brazilian economy grew by 5.4% in the second quarter compared with the same period of last year. Therefore, the sum of the riches produced in the country (Gross Domestic Product – GDP) during the first half of the year totals an accumulated growth rate of 4.9 % in comparison with 2006.

The accumulated rate for the four quarters ending last June (annualized rate) stands at 4.8%.

The data, disclosed by the Brazilian Institute of Geography and Statistics (IBGE), show that the Brazilian GDP grew 0.8% from the first to the second quarter this year, to reach 630.2 billion Brazilian reais (US$ 326.4 billion).

Of this total, 542.7 billion reais (US$ 281.1 billion) represent value added to basic prices, and 87.5 billion reais (US$ 45.3 billion) represent taxes.

The highlight in terms of expansion during the second quarter was industry, which grew 1.3%. The services sector grew 0.7%, and agriculture, 0.6%. In comparison with the second quarter of 2006, the 5.4% increase was also led by the industry sector, which expanded 6.8%; the services sector grew 4.8%, and agriculture, just 0.2%.

The Gross Domestic Product (GDP) had grown by 4.3% in the first quarter compared with the same period in 2006, The GDP for the first quarter reached 596.2 billion Brazilian reais (US$ 307.3 billion).

From that amount, 28.7 billion reais (US$ 14.7 billion) came from the agricultural sector, 147.6 billion reais (US$ 76.1 ) came from industry, and 334.7 billion reais (US$ 172.5) came from the services sector.

The sector that expanded the most, in the first quarter, compared with the same period in 2006, was services, at a growth rate of 4.6%, followed by industry, at 3%, and agriculture, at 2.1%.

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