Brazil’s 2017 GDP revised from 1% to 1.3%

A higher increase was detected for agriculture and services

Published in 08/11/2019 - 15:32 By Vinícius Lisboa - Rio de Janeiro

Brazil’s gross domestic product (GDP) grew 1.3 percent in 2017, the government’s statistics agency IBGE reported today (Nov. 8) after an in-depth appraisal on the dynamics of the economy that year, which interrupted the recession of 2015 and 2016.

The agency keeps track of the country’s GDP results and publishes them every three months. However, after the latest disclosure, researchers continue to update their methodology and collect more detailed data, like firm reports and figures from the Federal Revenue Service, which serve to provide a more comprehensive gauge on the economy.

The growth of the economy in 2017 went from one to 1.3 percent, adding up to $1.59 trillion.

Performance

Also updated were the figures for each sector of the economy. Agriculture (farming and cattle ranching) was revised from 13 to 14.2 percent; industry went from a stable zero percent to a slip of 0.5 percent. Services grew from 0.8 to 0.3 percent.

The investment rate, formerly reported at 15.6 percent, dropped to 14.6 percent, the lowest level since 1995.

Translation: Fabrício Ferreira -  Edition: Fernando Fraga / Nira Foster

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