GDP in the third quarter was R$ 542,1 billion
Net Lending reached R$ 16,2 billion. GDP accumulated in the year was R$ 1,5 trillion. In the quarter, household consumption was R$ 290,5 billion and the investment rate reached 20.8%.
December 19, 2006 10h00 AM | Last Updated: March 16, 2018 12h46 PM
Net Lending reached R$ 16,2 billion. The GDP accumulated in the year reached R$ 1,5 trillion. In the quarter, household consumption was R$290,5 billion. The investment rate reached 20.8%, the second highest percentage in the third quarter of a year since the beginning of the series, in 1995. 
The GDP at market prices of the third quarter of 2006 was R$ 542,1 billion, being R$ 485,2 billion relative to Value Added at market prices and R$ 56,9 billion relative to Excise Tax. Among the components of Value Added, Agriculture reached R$34,4 billion, Industry R$ 200,5 billion and Services R$ 275,2 billion. Consequently, the GDP accumulated in the year was R$ 1,592,2 billion, and considering demand, Agriculture reached R$ 107,3 billion; Industry, R$552,7 billion, and Services, R$ 776,5 billion.
Among the components of demand, in the third quarter, Household Consumption totaled R$ 290,5 billion, Government Consumption, R$ 105,6 billion, and the Gross Formation of Fixed Capital, R$112,5 billion. The Balance of Goods and Services had a surplus of R$24,8 billion (R$ 96,9 billion from exports and R$ 72,1 billion from imports); Stock Variation was R$ 8,6 billion.
In the third quarter, investment rates and savings had the highest figures since 1995
The investment rate in the third quarter of 2006 made up 20.8% of the GDP. In relation to the same period in each year (Q3), it was the second highest rate in the series which started in 1995, being only inferior to that in the third quarter of 2004 (20.9%). The savings rate (25.2% of the GDP) was the second highest in the series, only below the rate in the third quarter of 2004 (25.4%).
Net lending reaches R$ 16,2 billion in the third quarter and accumulates R$ 22,8 billion in the year
The Net Lending of the National Economy was R$ 16,2 billion in the third quarter of 2006, that is, it had an increase of R$ 2,8 billion in comparison with the third quarter of 2005 (R$ 13,4 billion). Such change is mainly due to the decrease of net interest transferred to the Rest of the World (R$ 2,4 billion), which resulted from the increase of revenue from foreign interest and to the reduction of expenses of interest in the period. In the year, accumulated Net Lending is R$22,4 billion, versus R$ 26,5 billion in the same period of 2005.
Gross Revenue reached R$ 530,5 billion in the third quarter of 2006, versus R$ 483,6 billion in the equivalent period in 2005. On the same basis of comparison, Gross Savings reached R$ 136,9 billion in 2006, an increment of R$ 16,2 billion in relation to the third quarter of 2005 (R$ 120,7 billion). In the year, the Gross Revenue has accumulated R$ 1,486,2 billion, and Gross Savings, R$ 361,3 billion.
National Economy: investments of Brazilians abroad increase
In the quarter, there was change of the variation of assets1 in National Economy – from an investment of R$ 11,9 billion in the third quarter of 2005 to R$ 36,9 billion in the third quarter of 2006. As for liabilities variation in the same period, net funding changed from a negative amount (payment) of R$ 1,7 billion to a positive amount of R$ 20,6 billion.
In the assets variation of the quarter, the highlight was the instrument F.3 – Securities except Shares – with an increase of investment of about R$ 25,3 billion, versus an increase of R$ 13,4 billion in the same quarter of 2005. This change in F.3 was caused by the increase of investments of international reserves in Bonuses and Long-term Notes: R$ 13,6 billion and R$ 25,4 billion, respectively, in the third quarters of 2005 and 2006. Also bigger were the investments in F.5 – Shares and Other Capital Participation, and in F.7 – Other Debts and Credits. In terms of instrument F.5, the investment was R$ 4,3 billion in the third quarter of 2006, versus R$ 1,6 billion in the same period of 2005. The increase of investments in F.5 was affected by the growth of participation of Brazilians in the foreign capital, IBD – Brazilian Direct Investment, which had increase of R$ 1,7 billion and R$ 4,9 billion, respectively, in the third quarters of 2005 and 2006. Investments through the instrument F.7 changed from R$ 82 million, in the third quarter of 2005, to R$ 3,2 billion, in the same period of 2006. This occurred mainly due to the increase of IBD – intercompany loans from the headquarters in Brazil to the branch abroad, which changed from R$ 8,3 million to R$ 3,2 billion in the third quarter of 2006.
With reference to the assets variations in the quarter, it is necessary to point out the increase of net investments through Securities except Shares - F.3, and of Loans and Financing – F.4. In the first case, the net investment was R$ 6.0 billion in the quarter, versus negative net investment (payment) of R$ 5,0 billion in the third quarter of 2005. The increase of net investment with this instrument occurred, above all, in Long- term fixed-income securities, with an investment of R$ 2,5 billion, versus negative net investment (payment) of R$ 4,5 billion in the third quarter of 2005. Essential contribution to this result came from paid amortizations of long-term fixed-income securities negotiated abroad.
This way, the increase of investments in F.3 resulted more from the reduction of payments of amortizations than from the increase of submission of resources – once the latter remained practically stable in relation to the third quarter of 2005: R$ 22,8 billion and R$ 22,9 billion, respectively, in the third quarters of 2005 and
International Reserves increase R$ 22,4 billion in the quarter
Considering net lending of the economy and the total flow of assets and liabilities in the quarter, it was possible to observe significant increase of the International Reserves (R$ 22,4 billion), versus reduction (R$ 6,2 billion) in the third quarter of 2005. It is worth mentioning that the growth of international reserves in the third quarter of 2006 was the highest since the first quarter of 2005, when the increase of reserves was R$ 27,6 billion.
The data in table III.3 show that there was increase of net lending of the National Economy, from R$ 13,4 billion in the third quarter of 2005, to R$ 16,2 billion in the same period in 2006. Besides, there was significant increase of the quantity of funding of the national Economy – from a negative amount of R$1,7 billion to a positive amount of R$20,6 billion in the third quarter of 2006. On the other hand, except for the variation of assets, there was reduction of assets transactions – from R$ 18,0 billion to R$ 14,5 billion, respectively, in the third quarters of 2005 and 2006. As a result, International Reserves increased R$ 22,4 billion in the third quarter, versus reduction of R$ 6,2 billion in the same period of 2005.
1Including Reserve Assets.