This Friday (22), the Brazilian Institute of Geography and Statistics (IBGE) released the new edition of the report “Economic Indicators of Brazil – 2025” containing the main current economic data of the country, obtained from surveys carried out by the Institute throughout 2025.

These are indicators that are sourced from current surveys, those with monthly, quarterly or semiannual periodicity. In the report, these indicators were organized into four axes: labor and income from work; production of agricultural activities; production of industrial, trade and service activities; and price and cost indices.

“The objective of the publication is twofold: to provide easy access to this data and to give visibility to the Institute's economic surveys. The publication allows those interested to have a panoramic view of the Brazilian economy through these indicators, facilitating access to their results and enabling a greater understanding of the contribution of these surveys to the interpretation of the country's economic situation,” highlights researcher Camila Vaz, from the IBGE's Directorate of Surveys.

From this perspective, Ms. Vaz emphasizes that consolidating the indicators into a single report facilitates the use of this data in analyses and decision-making, and deepens knowledge about IBGE's publications.

This is the second publication of the “Economic Indicators of Brazil”. The first, with data referring to the year 2024, was published last year. The product covers the results of the following surveys: Continuous National Household Sample Survey (PNAD); Systematic Survey of Agricultural Production (LSPA); Quarterly Survey of Animal Slaughter (PTAA); Quarterly Survey of Milk (PTL); Quarterly Survey of Leather (PTC); Hen Egg Production (POG); Monthly Survey of Industry (PIM) - Physical Production; Monthly Survey of Trade (PMC); Monthly Survey of Services (PMS); Extended National Consumer Price Index – IPCA; National Consumer Price Index – INPC; National System of Costs Survey and Indexes of Construction – SINAPI; and Producer Price Index – IPP.

“From this factsheet, readers can find more information and details about each of the surveys of interest and follow the current results produced by them throughout the year,” emphasizes the Deputy Director of the Directorate of Surveys, Vladimir Miranda.

Economic Scenario in 2025

The international scenario in 2025 maintained high geopolitical risks, with regional conflicts, trade tensions, and rivalries between major powers. More active industrial policies and new tariff packages affected global value chains, increasing volatility and uncertainty. According to the publication, countries like Brazil faced a fragmented business environment, adopting cautious monetary and fiscal policies to preserve stability. The restrictive US policy, with high interest rates, limited room for rate cuts in Brazil, while the slowdown in China (GDP of 4.5% compared to 5% in 2024) reduced its contribution to global growth.

The outlook for 2025 reveals a moderately expanding economy, supported by agriculture and exports, but limited by high interest rates and less dynamic domestic consumption. The year saw significant advances in employment, agriculture, and services, accompanied by more controlled inflation, but also cost pressures in construction and a slowdown in some segments of trade.

GDP grows for the fifth consecutive year

Last year, the GDP grew by 2.3%, the fifth consecutive year of expansion, although below the 3.4% of 2024. Agriculture was the main driver, responsible for about a third of the growth, with record harvests of corn and soybeans. Industry, trade, services, and construction advanced less.

Agriculture was boosted by favorable weather, expansion of planted area, and well-distributed rainfall, resulting in a record grain harvest, especially corn and soybeans. According to the LSPA survey, national grain production in 2025 was 346.1 million tonnes, 18.2% higher than that obtained in 2024 (292.7 million tonnes). This number represents a record in the IBGE time series, which began in 1975.

In livestock, the slaughter of cattle, hogs and pigs, and chickens reached the highest levels recorded in the PTAA time series. Furthermore, milk acquisition was the highest in the time series that began in 1997, as was the production of hen eggs.

In 2025, the labor market registered a significant increase in average income from work compared to the previous year (+5.8%) and a further drop in the unemployment rate, which reached 5.6%, the lowest level observed in the annual time series, which began in 2012.

In industry, the cumulative growth in 2025 was 0.6% (compared to 3.1% in 2024), mainly sustained by mining and quarrying industries expanded by 4.9%, while the manufacturing industry (-0.2%) was impacted by a more restrictive monetary policy environment, which tends to discourage business investment decisions and household consumption. Industry registered positive results in two of the four broad economic categories and in 14 of the 25 branches (49.3% of the 789 products surveyed).

Retail trade showed growth (1.6%), completing nine consecutive years of expansion. However, the extended retail sector showed a change of 0.1% in 2025 compared to 2024. The volume of services ended 2025 with an expansion of 2.9%, the fifth consecutive year of growth, with a cumultive gain of 31.1%.

Regarding prices, inflation cooled, influenced by the high interest rate policy. The cumulative IPCA for the year was 4.26%, 0.57 percentage points (pp) below the previous year's result (4.83%). The groups with the greatest impact were Housing, Health/personal care, Food and beverages, and Transportation.

Regarding producer prices, there was a cumulative decrease of 4.51% in 2025, the second lowest cumulative value for the year, up to December, since the beginning of the time series in 2014. The main influences were registered in: food products; mining and quarrying industries; coke; petroleum products and biofuels; and basic metals.

As for costs measured by SINAPI (5.63%), there was an increase of 1.65 pp compared to the cumulative rate of 2024 (3.98%). In 2025, the cumulative result of the portion corresponding to material costs was 4.20%, while that referring to labor costs reached 7.63%.