The Gross Domestic Product at market prices presented change of 1.4% from the first to the second quarter of  2005, for the seasonally adjusted series. The GDP accumulated in the first semester of the year grew by 3.4% in relation to the same period in 2004. In comparison with the second quarter of 2004, there was growth of 3.9%. The accumulated rate in the four quarters was 4.3%, when compared to the four preceding quarters. 

Main results for GDP at market prices

From Q2 2004 to Q2 2005

In comparison with Q1 2005, GDP grew by 1.4%

The GDP at market prices changed by 1.4% in the comparison of the second quarter with the first quarter of 2005, for the seasonally adjusted series. Livestock, Industry and Services grew by 1.1%, 3.0% and 1.2%, respectively. 

In relation to the components of demand, the main highlight was the growth, by 4.5%, of Gross Fixed Capital Formation in the second quarter of 2005.This result follows a period of falls which charcterized the last two quarters. The Exports of Goods and Services followed the trend of growth started in the second quarter of 2003 and increased by 2.6%. The Imports of Goods and Services, on the other hand, had, for the seventh consecutive quarter, an increase of 2.4%. Family Consumption had a positive change of 0.9%, and Government Consumption, of 1.1%.

Industry grew by 4.4% in the first semester of the year

The GDP at market prices in the first semester of 2005 grew by 3.4%, in relation to the same period in 2004. In the same comparison, the subsectors of Industry and Livestock grew by 4.4% and 2.9%, respectively, and the subsector of Services, by 2.4%.

All the four subsectors belonging to the Industrial sector presented positive rates in comparison with the first semester of 2004, with the growth of Mining and Quarrying Industry (10.6%) as the main highlight. Both Manufacturing and Public Utilities grew by 3.9%. Construction grew by 2.2%.

Services sector, the best performances were those of Trade and Transportation (4% and 3.9%, respectively). The subsectors of Rents (3.2%), Financial Institutions (3.1%), Public Administration (2%) and Other Services (1.5%) also grew. Communication was the only subsector to present fall (-2.3%).

According to the analysis of demand, Family Consumption and Gross Fixed Capital Formation grew by 3.1%. Government Consumption grew by 2.1%. In terms of external sectors, the components Exports and Imports of Goods and Services presented positive rates of 13.3% and 12.5%, respectively. 

Industry, having grown by 5.5%, was the main highlight of the second quarter

The GDP at market prices grew by 3.9% in the second quarter of 2005, in relation to the same period in 2004. Added Value at basic prices grew by 3.7% and Taxes on Products, by 5.8%.

The three sectors which contributed to the Added Value had positive rates in comparison with the second quarter of 2004. Industry was the highlight, with a growth of 5.5%, followed by Livestock (3.2%) and by Services (2.5%).

With reference to the industrial activity, all the subsectors presented growth rates, with Mining and Quarrying and Public Utilities as the main highlights (17.5% and 4.6%, respectively). In the Mining and Quarrying Industry, this was the highest rate since the fourth quarter of 2000, (when the growth rate was 20.4%), benefited by the extraction of mineral coal and petroleum.

Manufacturing, with a growth rate of 4.1%, had its ninth consecutive positive rate in the quarter.  Public Utilities rose by 4.6% and Construction, by 3.7%. According to the Monthly Employment Survey (PME/IBGE), released in August, the population employed by Construction increased by 4.9% in the second quarter of this year in relation to the same period in 2004.

The sector of Services had a positive performance, similarly to the subsectors of Livestock and Industry, with positive rates in almost all their subsectors. The main highlights in this case were Transportation (4%) and Trade (retail and wholesail), which grew by 3.8%. In the remaining subsectors, the results were:  3.4% for Financial Institutions; 3.4% for Public Administration; 2.8% for Rents and  0.7% for Other Services. Communication, with –1.7%, was the only subsector which presented negative results. These were influenced by the reduction, in terms of volume, of fixed telephony,mainly due to long-distance calls.

In terms of demand, Gross Formation of Fixed capital had the sixth consecutive positive rate (4%). In the second quarter of 2005, compared to the same period in 2004, Family Consumption reached 3%, keeping the trend started in the fourth quarter of 2003 (1.3%). Finally, Government Consumption grew by 3.1%, s a consequence of the low comparison base of the fourth quarter of 2004.

As for external demand, Exports of Goods and Services (12.9%) and Imports of goods and Services, with a rate of 12.7%, kept a good performance. This is seventh consecutive quarter of growth for both Exports and Imports of Goods and Services.

The rate accumulated in the last four quarters (in relation to the asme period in the previous year) was 4.3%

The GDP at market prices accumulated in the period of four quarters which ended in the second quarter of 2005 grew by 4.3% in relation to the four immediately previous quarters. This rate results from the growth, by 4% of Added Value at basic prices and of the growth, by 7.6% of Taxes on Products. The result for the Added Value in this type of comparison resulted from the positive performance of the three sectors which form it: Industry (5.4%), Livestock (3.6%) and Services (3.1%).

Among the subsectors of Industry, the best performance was that of Manufacturing (5.7%), followed by Construction (5.3%) and Public Utilities (4.7%). After two consecutive quarters with negative rates, Mining and Quarrying had the lowest growth rate in this comparison (3.4%).

The major rises observed in Services were those of the subsectors Trade, Financial Institutions and Other Services (6.5%, 4.1% and 4.0%, respectively). The subsectors of Transportation (3%), Rents (2.7%) and Public Administration (1.5%) also presented positive results. The subsector of Communication (-1.5%), had its fifth consecutive negative result.

According to the analysis of demand, Family Consumption (4.2%) presented the fifth consectutive quarter of  growth. Government Consumption grew by 1.3%.

Gross Fixed Capital Formation also presented growth (8.6%). One of the factors which made this result possible was the increase of the number credit operations of the financial system (19.2%, in nominal terms [1]).

In terms of external sectors, Exports of Goods and Services grew by 15.2% and Imports of Goods and Services, by 13.8%.