In relation to the third quarter of 2009, the Gross Domestic Product (GDP)¹ at market prices of the fourth quarter of last year increased 2.0%, taking into account the seasonally adjusted series². Industry recorded the sharpest rise (4.0%), followed by services (0.6%) and agriculture (0.0%).

In comparison with the fourth quarter of 2008, GDP increased 4.3%; the value added at basic prices³ increased 3.9%; and excise taxes, 6.2%. Among economic activities, the highlights were services (4.6%) and industry (4.0%), whereas agriculture presented a decline (-4.6%).

In the accumulated in the year 2009, in relation to the same period of 2008, GDP changed -0.2%, as a result of the -0.1% rate for value added and of the 0.8% tax reduction. In this comparison, agriculture (-5.2%) and industry (-5.5%) had decreases, whereas services (2.6%) grew. Thus, according to information from the Quarterly National Accounts⁴, in 2009 the GDP at current values reached R$ 3,143 billion. As in 2009, the Brazilian population grew 0.99%, the GDP per capita⁵ was R$ 16,414, experiencing a 1.2% decline in volume in relation to 2008.

Main results of GDP at market prices from the fourth quarter of 2008 to the fourth quarter of 2009

The fall of agriculture in 2009 (-5.2%) was due to the reduced production of important crops, such as wheat (-16.0%), corn (-13.5%), coffee (-12.8%) and soy (-4.8%).

In industry (-5.5%), all activities presented fall; the most significant was that of manufacturing industry (-7.0%), followed by civil construction (-6.3%), and electricity, gas, water, sewage and urban cleaning (-2.4%). Mining and quarrying industry recorded a variation of -0.2%, with a 5.7% increase in petroleum and gas production, and a 22.3% decrease in iron ore extraction.

In the sector of services (2.6%), results were positive for financial mediation and insurance (6.5%), other services (5.1%), information services (4.9%), public administration, health and education (3.2%), and real estate services and rent (1.4%). On the other hand, services related to manufacturing industry had decreases: wholesale and retail trade (-1.2%), and transportation, storage and mail (-2.3%).

In the analysis of demand, household consumption expenditure grew 4.1% in 2009, the sixth consecutive year of increase. General government consumption expenditure also increased (3.7%). On the other hand, gross formation of fixed capital decreased 9.9%.

In the external sector, exports had a 10.3% reduction, and imports, 11.4%. Since 2005, the performance in volume of exports had not been superior to that of imports.

With a -0.2% variation in GDP and the 0.99%⁷ growth of the dwelling population, in 2009 there was a rise of 1.2% in GDP per capita, which was R$ 16.414.

In 2009, GDP reached R$ 3,143 billion

The investment rate⁸ in 2009 was 16.7% of GDP, the lowest since 2006 (16.4%). The savings rate⁹ reached 14.6% of GDP, the lowest since 2001 (13.5%).

Industry loses participation in value added of economy 

Principally because the 5.5% fall, industry lost participation in value added at basic prices, from 27.3% in 2008 to 25.4% in 2009. Agriculture gained 0.2 percentage point (from 5.9% to 6.1%), but the highest increase was that of services: 1.8 percentage point (from 66.7% in 2008 to 68.5% in 2009).

Considering demand, the external sector lost participation both in exports and imports, whereas the internal demand gained participation, with highlights being household consumption expenditure, according to the table below.

In relation to Q3 2009, industry was the activity with the highest growth

GDP grew 2.0% comparing the fourth and the third quarters of 2009. The variations by economic activity were: industry, 4.0%; services, 0.6%, and agriculture, 0.0%.

Among the components of internal demand, the gross formation of fixed capital (FBCF, or investment) had the highest rise (6.6%), followed by the household consumption expenditure (1.9%) – indicator that has been growing since the first quarter of 2009 (0.2%) – and by the general government consumption expenditure (0.6%). 

Considering the external sector, both exports (3.6%) and imports of goods and services (11.4%) recorded growth.

In relation to the same quarter of the previous year, FBCF had the first rise in the year

Comparing the fourth quarter of 2009 and the fourth quarter of 2008 (GDP variation = 4.3%), the negative rate of agriculture (-4.6%) can be greatly explained by the performance of some products with a relevant harvest in the period⁶, such as wheat and orange, which had production falls in the year, of 16.0% and 0.3%, respectively. The estimates for livestock and silviculture and forestry also showed a poor performance in the fourth quarter of 2009.

In the industrial activity (4.0%), the highlight was the 5.6% growth in mining and quarrying industry, mainly explained by the 5.7% increase in petroleum and gas production. Manufacturing industry follows (4.7%). Civil construction grew 2.5%, favored by increased credit operations destined to housing; whereas electricity and gas, water, sewage and urban cleaning increased 1.4%.

Among services (4.6%), the highlights were financial mediation and insurance (8.5%); trade (8.1%); and transportation, storage and mail (5.4%), the last two influenced by industrial performance. The remaining variations were: other services, 3.5%; public administration, health and education, 3.2%; information services, 2.1%; and real estate services and rent, 1.5%.

Among the components of internal demand, the highlight was the 7.7% growth in household consumption expenditure – the 25^th consecutive growth in this base for comparison –, influenced by the continuous rise of real salary volume and credit for natural persons, and by the fact that the base for comparison was the fourth quarter of 2008. General government consumption expenditure grew 4.9%, and the gross formation of fixed capital, after a three-month decline, increased 3.6%.

In the external sector, exports decreased 4.5%, whereas imports increased 2.5%, both with performances superior to those of the first three quarters of 2009.

In the year, GDP changes -0.2%, and GDP per capita, -1.2%

In 2009, he Brazilian GDP changed -0.2% in relation to 2008. In recent years, after the 3.2% growth in 2005, the rate accumulated in 12 months increased up to the top of 6.6% in the third quarter of 2008. Then, there was a decrease, reaching -1.0% in the third quarter of 2009 and closing the year with -0.2%, according to the graphic below.

 ___________________________________________

¹Goods and services produced in the country without the expenses with inputs used in the production process during the year.

²The series agriculture, industry, services, value added, GDP, general government consumption expenditure, household consumption expenditure, gross formation of fixed capital, exports and imports of goods and services are seasonally adjusted in a direct manner, that is, individually.

³Contribution to GDP made by the diverse economic activities, obtained by the difference between production value and intermediate consumption of these activities.

⁴All indicators and values settled by the Quarterly Accounts are subject to review.

⁵ Division of the current value by the dwelling population in the middle of the reference year.

⁶According to the Systematic Survey of Agricultural Production (LSPA-IBGE).

⁷According to estimates by the Department of Population and Social Indicators (COPIS) of IBGE.

⁸Gross formation of fixed capital/GDP.

⁹Gross Savings/GDP.