The National Accounts of IBGE show that, according to the new methodology, there was accumulated growth of 3.7% throughout the four quarters of 2006.  GDP at market prices was R$ 2,322,8 million and GDP per capita grew by 2.3% in the period, having reached the figure of R$ 12,437,00.  

IBGE proceeds with the implementation of the methodological improvements in the System of National Accounts, by releasing the new series of Quarterly Accounts, with emphasis on year 2006. From now on, there will be four releases a year, including the values and the growth rates of the Gross Domestic Product and its components – which had been released separately so far.

The new series of National Accounts adopted year 2000 as the initial reference, and included data from the annual surveys of IBGE, official federal registrations of legal entities, the Consumer Expenditure Survey of 2003 and the Agricultural Census of 1996. Concepts and definitions in it have been updated according to the latest recommendation of the United Nations and of other international organizations.  

The table below shows the main results for the Gross Domestic Product (GDP) at market prices relative to the last five quarters.

In 2006, the accumulated GDP at market prices increased by 3.7%, compared to the figure in 2005. In 2006, the resident population in the country reached approximately 186,8 million inhabitants, representing a population growth of 1.4% in 2006¹

The real growth of GDP per capita in 2006 reached 2.3%, according to Graph I.1 below. The GDP rate resulted from the rise of 3.5% in the Value Added at market prices, and of the increase of in Excise Tax (5.2%). The result of the value added in this type of comparison was a consequence of the performance of the three sectors which form it: Agriculture (4.1%), Industry (2.8%) and Services (3.7%).

In 2006, agriculture grew by 4.1%, having recovered in relation to the previous year, when it increased slightly (1.0%), due to the interruption of the harvests of some representative products, and due to the occurrence of foot-and-mouth disease in the fourth quarter of 2005.  

Among the subsectors of Industry, the biggest hike occurred in Mining and Quarrying (6.0%). In this subsector, the highlight was the annual growth (5.1%) in the extraction of petroleum and gas, and of iron ore (10.9%). Also contributed to the rise of the industrial sectors, Construction (which increased by 4.6%) and Production and distribution of electricity, gas and water, with 3.6%. Manufacturing industry rose by 1.6%.

The biggest increases in Services occurred in the subsectors Financial mediation, complementary social security and related services, with 6.1%, and Trade (retail and wholesale), with 4.8%. They were followed by Real estate activities and rents, with 4.3%, Transportation, storage and mailing services, with 3.1%, Other services, with 2.6% and finally, Information services, with 2.3%. The graph below shows the accumulated change rates of GDP and its subsectors, in 2005 and 2006.  

In the analysis of demand, Household consumption increased by 4.3%, and it was the third consecutive year with growth of this component. One of the factors which contributed to this result was the 5.6% rise of real salary mass, which occurred due to the good performance of employed persons and of the real average income usually earned (with increases of 2.3% and 3.3%, respectively, in comparison with 2005)². Besides, there was increase, in nominal terms, of the balance of credit operations of the financial system with free resources for physical persons ( 29.9%))³.

Government consumption increased by 3.6%. Gross Formation of Fixed Capital also increased by 8.7%, when compared to year 2005, being influenced by the growth of construction and of machinery and equipment, mainly the imported ones. It is important to highlight that the average of the real interest rate (Selic - Special System for Settlement and Custody) for 2006 was 15.3% a year, lower than in 2005, when it was 19.1% a year.

Concerning the external sector, Exports of Goods and Services grew by 4.6%, and the Imports of Goods and Services, by 18.1%. Both rates had considerable acceleration in comparison with rates in 2005. In this year the increase of exports had surpassed the increase of imports (10.1% and 9.3%, respectively). In Graph I.4, there are accumulated changes of the components of demand in the fourth quarters of 2005 and 2006. 

GDP reaches R$ 2,3 trillion in 2006

In 2006, the Gross Domestic Products at market prices reached R$ 2,322,8 billion, being R$ 1,999,6 billion relative to Value Added at basic prices and R$ 323,2 billion to Excise Tax.

Considering Value Added at basic prices of the Activity Sectors in 2006, Agriculture had a figure of R$ 102,9 million; Industry, of R$ 618,0 billion and Services R$ 1278,8 billion. Among the components of demand, Household Consumption totaled R$ 1402,1 billion; Government Consumption, R$ 463,0 billion and the Gross Formation of Fixed Capital, R$ 390,1 billion. The Balance of Goods and services had a surplus of R$ 68,2 billion and the Stock Change was R$ 0,7 million negative.

In terms of rate accumulated in the year, Net Lending reached R$ 21,0 billion, versus R$ 25,9 billion in 2005. This reduction can be considered a result of the reduction of the Foreign Balance of Goods and Services, by R$ 8,9 billion and by the reduction the Income Properties Received and Sent to the Rest of the World, by R$ 3,2 billion.  

Gross National Income reached R$ 2264,3 billion in 2006, versus R$ 2086,4 billion in the equivalent period in 2005. In the same comparison, Gross Savings reached R$ 408,6 billion, versus R$ 367,8 billion ion the same period in the previous year.