In the third quarter of 2025, the country's Gross Domestic Product (GDP) changed by 0.1% compared to the previous quarter, in the seasonally adjusted series. Although Agriculture (0.4%) and Industry (0.8%) showed positive changes in this comparison, the Services sector, which has a greater weight in the economy, remained practically stable (0.1%).

In current values, the GDP in the third quarter reached R$ 3.2 trillion. The Value Added of the three major segments of the economy was R$ 176.2 billion for Agriculture, R$ 682.2 billion for Industry, and R$ 1.9 trillion for Services.

The investment rate in the third quarter of 2025 was 17.3%, representing a slight reduction compared to the same period in 2024 (17.4%). The savings rate was 14.5%, matching the rate (14.5%) of the same period in 2024.

Compared to the preceding quarter, three Service activities showed the highest growth rates: Transportation, storage and mailing (2.7%), Information and communication (1.5%), and Real estate activities (0.8%). However, Trade (0.4%), Public administration, defense, health and education and social security (0.4%), and Other service activities (0.2%) had changes of less than 0.5%, while Financial activities, insurance and related services declined (-1.0%). The final result was stability in the Service sector compared to the previous quarter. According to Ms. Claudia Dionísio, analyst of the IBGE's Quarterly Accounts, "the large outflow of commodity production, resulting from the good performance of Mining and Quarrying and of Agriculture, contributed positively to the Transportation, storage and mailing activity".

In the Industrial sector, there were increases in Mining and Quarrying Industries (1.7%), Construction (1.3%), and Manufacturing Industries (0.3%), and decreases in Electricity and gas, water, sewage, and waste management activities (-1.0%).

From the expenditure perspective, Household Consumption (0.1%) remained practically stable and Government Consumption grew by 1.3%, while Gross Fixed Capital Formation rose by 0.9% compared to the preceding quarter.

Compared to the same quarter of 2024, GDP grows 1.8%

When compared to the same period of the previous year, the GDP grew by 1.8% in the third quarter of 2025. A large part of this growth is due to Agriculture, which grew by 10.1% compared to the same period in 2024, driven by increases above 10% in the production of three crops with significant harvests in the third quarter: corn (23.5%), oranges (13.5%), and cotton (10.6%). In contrast, sugarcane production (-1.0%) declined.

In the same comparison, Industry grew by 1.7%, driven by an 11.9% increase in mining and quarrying industries, with higher petroleum and gas extraction. Construction also grew (2.0%). On the other hand, there were declines in manufacturing industries (-0.6%) and in electricity, gas, water, sewage, and waste management activities (-1.0%).

The Services sector (1.3%) advanced compared to the same period in 2024. The main positive results came from Information and Communication (5.3%), Transportation, Storage and Mailing (4.2%), and Real Estate Activities (2.0%). According to the IBGE analyst, "the Agricultural and Mining and Quarrying activities, with less sensitivity to contractionary monetary policy, were those that had the highest increases, both in the year-on-year comparison and in the cumulative rate aling the year."

From the perspective of domestic demand, Household Consumption saw its 18th consecutive positive change (0.4%), while Government Consumption grew by 1.8%. Ms. Dionísio claimed that the 0.4% change in Household Consumption was the smallest since the first quarter of 2021, still during the Covid-19 pandemic. Gross Fixed Capital Formation grew 2.3% in the third quarter of 2025, with increases in Construction, imports of capital goods, and software development, despite a fall in the production of capital goods.

GDP accumulates a 2.7% increase over four quarters

The cumulative GDP over four quarters grew 2.7% compared to the four preceding quarters. In this comparison, all three activities showed advances: Agriculture (9.6%), Industry (1.8%), and Services (2.2%).

Among industrial activities, Mining and Quarrying Industries (4.5%), Construction (2.5%), and Manufacturing Industries (1.6%) grew. On the other hand, there was a decrease in Electricity and gas, water, sewage, and waste management activities (-2.2%).

In Services, there were increases in Information and Communication. (6.2%), Financial, insurance and related services (2.7%), Transportation, storage and mailing (2.7%), Other service activities (2.6%), Trade (2.2%), Real estate activities (2.0%) and Public administration, defense, health and education and social security (0.7%).

From the expenditure perspective, there were increases in Household Consumption (2.1%), Government Consumption (1.2%) and Gross Fixed Capital Formation (6.0%).

More about the survey

The System of National Accounts presents, on a quarterly basis, the current values ​​and volume indices for Gross Domestic Product (GDP) at market prices, net taxes on products, value added at basic prices, personal consumption, government consumption, Gross Fixed Capital Formation, inventory changes, exports and imports of goods and services.

At the IBGE, the survey began in 1988 and was restructured from 1998 onwards, when its results were integrated into the System of National Accounts, published annually. Consult the GDP data on Sidra. The next release of the Quarterly Accounts, relating to the 4th quarter of 2025, will be on March 3, 2026.