Brazil’s Industry Leads Best Growth in 9 Years

The Brazilian Gross Domestic Product(GDP) rose 5.3% from January to September this year. This is the largest evolution registered since 1995.

These figures were supplied November 30 by the Brazilian Institute for Geography and Statistics (IBGE). There has not been such significant growth since the first nine months of 1995, when the country GDP rose 6.4%.


The growth in country riches was pushed by industry, and also by agribusiness and services.


According to information supplied by Agência Brasil, while industries improved their performance by 6.3% in the first three months of this year, agribusiness grew 5.6% and services 3.8%.


In industry, the sector that grew most was transformation, with a 7.4% high. Civil construction also evolved 5.9% and mining companies 2.1%.


In the service sector, the largest growth was represented by trade, which expanded 8.1% and transport, with 5.6%.


The performance of Brazilian retail grew together with the increase of consumption by part of the Brazilian families, which, according to the IBGE, grew 3.9% when compared to the same period in 2003. This news was commemorated by the Brazilian government.


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Federal administration was already being motivated by the good performance of Brazilian exports, which have been growing at a rhythm of around 30% and should end the year with revenues of US$ 94 billion.


The IBGE, which is responsible for GDP studies, also made a new analysis of the country figures for last year, concluding that the country GDP expanded 0.5% last year, and did not shrink 0.2%, as had been announced before.


This means that the total of all goods produced in the country last year totalled R$ 1.556 trillion (US$ 570 billion).


In 2003, the sector that mostly pushed expansion was agribusiness, with evolution of 4.5%, followed by services, with 0.6%.


Brazilian Finance Minister Antonio Palocci made a point of showing that the figures announced show that the country has a vigorous economy that is capable of promoting changes without GDP losses.


Palocci recalled that in 2003, a large adjustment was made to the Brazilian economy due to the crisis lived in 2002. Due to the instability generated by Brazilian presidential elections, which took place at the end of that year, the dollar rose significantly against the Brazilian real, and the country risk increased.


“This is significant data for an economy with a tradition of vulnerability. However, we may identify that, since 2003, Brazil has made an effort with a very positive result,” stated the minister.


From the second to the third quarter of this year, growth of the GDP was 1%. When compared to the same period in 2003, expansion was 6.1%.


These figures also show that in the last four quarters, the growth of the Brazilian GDP reached 4.2% in comparison to the same 12 months in the previous period.


ANBA ”“ Brazil-Arab News Agency

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