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In 2012, GDP grows 0.9% and reaches R$ 4.403 trillion

In relation to the third quarter of 2012, the GDP (Gross Domestic Product) of the fourth quarter posted a positive change...

March 01, 2013 09h00 AM | Last Updated: August 20, 2019 04h10 PM

 


 

 

In relation to the third quarter of 2012, the GDP (Gross Domestic Product) of the fourth quarter posted a positive change of 0.6%, in the seasonally adjusted series.  Among the economic activities, services are a highlight, growing 1.1%. The industry had a positive change of 0.4%, whereas agriculture and livestock farming recorded a drop (-5.2%).

 

 

In comparison with the fourth quarter of 2011, the GDP grew 1.4%. The value added at basic prices rose 1.1% and the taxes less subsidies on products grew 2.7%. Among the economic activities, services are again a highlight, growing 2.2%. The industry held steady (0.1%) and agriculture and livestock farming posted a drop (-7.5%).

 

 

In 2012, compared to 2011, the expansion was of 0.9%, due to the 0.8% rise in the value added at basic prices and to the 1.6% growth of the taxes less subsidies on products. Services were the positive highlight (1.7%), whereas agriculture and livestock farming (-2.3%) and the industry (-0.8%) decreased. Thus, the GDP in current values reached R$ 4.403 trillion in 2012. The per capita GDP achieved R$ 22,402, remaining virtually unchanged (0.1%) in relation to 2011.

 

 

The complete publication can be accessed at   https://www.ibge.gov.br/english/estatistica/indicadores/pib/defaultcnt.shtm

 

 


 

The expansion of GDP resulted from the 0.8% rise of Value Added at basic prices and of the increase of 1.6% of Taxes Less Subsidies on Products. The result of Value Added in this type of comparison reflected the performance of the three activities that integrate it: Agriculture (-2.3%), Industry (-0.8%) and Services (1.7%).  

 

The reduction in volume of the Value Added of Agriculture in 2012 (-2.3%) resulted from the weak performance of livestock and, mostly, from the fact that several important Brazilian crop items recorded decrease in the annual output and productivity loss (except for corn and coffee, which registered an annual output growth of 27.0% and 15.2%, respectively).

 

In the Industry, the highlight was the increase of Electricity and gas, water, sewage and urban sanitation (3.6%) and Civil construction (1.4%). The performance of Electricity and gas, water, sewage and urban sanitation was pushed by the residential and commercial consumption of electricity.

 

In Services, the positive highlights were Information services (2.9%), Administration, health and public education (2.8%) and Other services (1.8%). Real estate and rental services recorded a growth of 1.3%, followed by Trade (1.0%), Transport, storage and mailing (0.5%) and Financial intermediation and insurance (0.5%). Throughout 2012, the growth of the real volume of salaries, coupled with the expansion of consumption credit, pushed the increase of sales in the retail trade of goods at a faster pace than that of the industrial output.

 

In the demand analysis, household expenditure increased by 3.1% - the ninth consecutive year of growth of this component. Such behavior was favored by the rise of 6.7% of the workers payroll, in real terms, and by the increase, in nominal terms, of 14.0% of the balance of loans in the financial system with free resources for individuals. Government expenditure increased by 3.2%.

 

Gross fixed capital formation, on the other hand, had a drop of 4.0% in 2012 – driven by the fall in the domestic production of machinery and equipment.

 

Considering the foreign sector, both exports and imports of goods and services had positive changes: of 0.5% and 0.2%, respectively. Exchange devaluation may explain the higher growth of exports: between 2011 and 2012, the exchange rate (measured by the quarterly average of exchange rates R$/US$ for purchase and sale) changed from 1.67 to 1.95.

 

Investment and savings rates in 2012 were lower than those observed in 2011

 

The investment rate in 2012 was 18.1% of the GDP, lower than the rate in the same period a year ago (19.3%).  The savings rate was of 14.8% in 2012 (against 17.2% in the previous year).

 

 

GDP changes 0.6% in relation to the third quarter of 2012.

 

In comparison with the third quarter of this year, Services were the positive highlight of the quarter, by growing 1.1%. The Industry, in its turn, changed 0.4% positively, whereas Agriculture and Livestock Farming fell 5.2%.

 

All activities in Services increased. The highlights were Transportation, storage and mail (2.1%), Other services (1.8%) and Information services (1.7%). Financial intermediation and insurance expanded 1.0%, followed by Real state and rental (0.4%), Public administration, health and education (0.4%) and Trade (0.3%).

 

The growth of the Industry was leveraged by the activities of Electricity and gas, water supply, sewage treatment and urban sanitation (1.8%) and by Mining and quarrying (1.4%). On the other hand, the remaining activities have dropped: Manufacturing industry (-0.5%) and Civil construction (-0.5%).

 

From the perspective of cost, the Consumption Expenditure of Households rose 1.2%, while the Consumption Expenditure of the Public Administration expanded 0.8%. As to the other component of the domestic demand, Gross Fixed Capital Formation, it grew 0.5%, after having fallen four quarters in a row. Concerning the foreign trade sector, both Exports and Imports of Goods and Services have expanded: 4.5% and 8.1%, respectively.

 

 

In relation to Q4 2011, Services grow 2.2%

 

Compared with the same period of the previous year, GDP recorded a growth of 1.4% in Q4 2012. Among the activities that contribute to Value Added, Agriculture registered decrease of 7.5% in this quarter in relation to the same period of 2011. The agricultural products whose harvests are substantial in Q4 and registered negative change in the annual production estimate of 2012 were: wheat (-23.3%), tobacco (-15.6%), sugarcane (-5.6%), orange (-4.3%) and cassava (-4.0%), according to LSPA/IBGE, released in January 2013.

 

The Industry, which had recorded a drop in the two previous quarters, stood virtually stable in the last quarter 2012 (0.1%) That is attributable to the drops in the value added of Mining and quarrying industries (-1.9%) and of Manufacturing industries (-0.5%).  IN the latter, the result was influenced, mostly, by the reduction in the manufacture of machinery and equipment ; office machinery and computer equipment; communication equipment and electronic materials; motor vehicles; basic metals; and apparel and footwear. Electricity and gas, water, sewage and urban sanitation presented a growth of 4.1%, while Civil construction recorded a negative change of 0.2%.

 

The value added of Services grew 2.2% in comparison with the same period of the previous year.  All the activities which form the segment grew, with a highlight to Other services (3.8%), Information services (2.8%) and Administration, health and public education (2.5%). Transport, storage and mailing increased 2.0%, followed by Real estate and rental services (1.3%), Trade (1.1%) and Financial intermediation and insurance (1.0%).

 

Among the components of the domestic demand, the consumption expenditure of households grew 3.9% - the 37th consecutive positive change in this basis of comparison.

 

The gross fixed capital formation recorded decrease of 4.5% in relation to the same period of the previous year, driven by the drop of the domestic output of machinery and equipment. The consumption expenditure of the public administration, on the other hand, grew 3.1% compared to the same period of 2011. From the perspective of foreign demand, both exports (2.1%) and imports of goods and services (0.4%) registered increase.

 

 

In the year, GDP grows 0.9% and per capita GDP remains unchanged (0.1%)

 

The GDP of 2012 accumulated a growth of 0.9% in relation to the previous year. The per capita GDP reached R$ 22,402 (in current values) in 2012, after holding practically stable (in real terms) in relation to the previous year:  positive change in volume of 0.1%.