The rise was driven by a record 15.1% rise in the agricultural sector, the most significant leap since the beginning of the time series in 1995. Industry and services also saw an improvement.
This percentage has been declining since 2016, when it peaked at 35.5 percent of Gross Domestic Product. In 2021, wages accounted for 31 percent of GDP.
With a predicted growth of 3.1% this year, the country should end the year with a $2.13 tri GDP, overtaking Canada, the IMF announced. Last year, Brazil ranked 11th.
Finance Minister Haddad said the GDP could close 2023 with slightly higher growth than the 3% projection published at the end of November by the Ministry of Finance. However, he said the result depends on the Central Bank continue to cut interest rates.
Brazil’s gross domestic product stood at BRL 2.651 tri in the second quarter this year. Against the second quarter last year, the economy grew 3.4%. In the last 12 months, the GDP rose 3.2%.
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