Led by Industry Brazil’s GDP Grows 5.3% This Year

Brazil industry Brazil's Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, has ended the first three quarters of the year with an accumulated growth rate of 5.3%, compared with the same period of 2006. The result is the highest for the period since 2004, when the expansion stood at 6.1%.

The industrial sector led the increase with a 5.1% expansion, services grew 4.7% and agriculture increased 4.3%.

From the second to the third quarter, the economy expanded 1.7% to reach 645.2 billion Brazilian reais (US$ 365.5 billion), of which 551.6 billion reais (US$ 312.5) consisted of value added to the economy, and 93 billion reais (US$ 52.6 billion) consisted of tax collected.

During the period, agriculture was a highlight, with a 7.1% expansion, followed by industry, which grew 1.8%, and the services sector, with 1.2%.

Compared with the third quarter of 2006, the economy grew 5.7%. Using the same basis for comparison, the highlight was agriculture, which expanded 9.2%, followed by industry, with 5%, and services, with 4.8%.

The figures were disclosed today, December 12, by the Brazilian Institute for Geography and Statistics (IBGE).

Brazil and Portugal

Brazil and Portugal bilateral trade grew 13% between January and November this year compared with the same period of 2006, to reach US$ 1.9 billion.

According to data supplied by the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC), Brazilian exports to Portugal increased 16.2% in comparison with the previous year, up to US$ 1.6 billion.

Exports from Portugal to Brazil recorded an 8% rise, to stand at US$ 308.4 million. Last month, Brazil sold to Portugal the equivalent of US$ 137.4 million, whereas Portuguese exports to the Brazilian market totaled US$ 42.5 million.

The main Portuguese products sold to Brazil in November were cod, olive oil, wines, cashew nuts and pears. The highlights of the Brazilian export basket to Portugal were oil, corn, shoes, wood, meat and aluminum alloys.

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Your email address will not be published.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

Russian-made Sukhoi (SU-30) fighter jet

Russia’s Weapon Peddling in Brazil and LatAm Is a Thriving Business

In recent years, the Russian Federation has become one of the major weapon suppliers ...

Women Head Half of Brazil’s Small Businesses

Brazilian women are beginning to discover a new field of opportunities. They currently head ...

Under the Left, Brazil and LatAm Have Become an Investors’ Paradise

This was supposed to be a difficult year for investors in Latin America, as ...

Best-seller Books, Plays and Movies

By Brazzil Magazine RIO Buda (Buddha)—Comedy. Decided to get a man she loves, a ...

World’s Top AIDS Experts in Brazil for Conference on HIV

The four-day 3rd IAS Conference on HIV Pathogenesis and Treatment, where more than 5,000 ...

Argentina Tries to Broker Peace in Brazil/Venezuela War

Argentine President Nestor Kirchner called Thursday, July 5, on his Brazilian counterpart Luiz Inácio ...

Young Piquet from Brazil Wins Britain’s A1 Grand Prix

The Brazilian driver Nelsinho Piquet won the first phase of the new world car ...

Brazil Drafts Conservation Plan for Pantanal, a Mankind’s Patrimony

In December, 2005, Brazil’s Minister of Environment, Marina Silva, signed an act establishing the ...