In the first quarter of 2017, the GDP (Gross Domestic Product) grew 1.0% over the fourth quarter of 2016, in the seasonally adjusted series. This was the first high in the comparison, after eight consecutive quarters of decrease. In the comparison with the same period of 2016, the GDP fell 0.4%. In the cumulative index of the four quarters ended in the first quarter of 2017, the GDP had a decrease of 2.3% in relation to the previous four quarters.

At current values, the GDP in the first quarter of March 2017 added up to R$ 1.6 trillion. The investment rate of the first quarter of 2017 was 15.6% of the GDP, below that reported in the same period last year (16.8%). The savings rate was 15.7% against 13.9% in the same period in 2016. The complete publication of the survey can be accessed here.

TABLE I.1 - Main GDP results at market prices from Q1 2016 to Q1 2017

Source: IBGE, Diretoria de Pesquisas, Coordenação de Contas Nacionais

The GDP recorded growth of 1.0% in the comparison between the first quarter of 2017 and the fourth quarter of 2016, considering the seasonally-adjusted series. Agriculture had an expansion of 13.4%, Industry grew 0.9% and Services (0.0%) held steady.

GDP falls 0.4% over the first quarter of 2016

When compared to the same period of the previous year, the GDP fell 0.4% in the first quarter of 2017, the twelfth negative result in a row in this comparison basis. The Value Added at basic prices decreased 0.3% and the net taxes on products decreased 0.8%.

Among the activities that contributed to the Value Added, Agriculture grew 15.2% in relation to the same period of the previous year. Industry decreased 1.1%. The value added of Services fell 1.7% in the comparison with the same period of the previous year.

For the eighth consecutive quarter, all components of the domestic demand registered negative changes in the comparison with the same period a year ago. In the first quarter of 2017, the Household Consumption Expenditure fell 1.9%.

This result could be explained by the behavior of the indicators of credit and labor market along the period. The Gross Fixed Capital Formation shrank 3.7% in the first quarter of 2017, the twelfth in a row.

In the foreign sector, Exports of goods and services grew 1.9%, whereas Imports of goods and services expanded 9.8% in the first quarter of 2017.

GDP accumulates decrease of 2.3% in the last four quarters

The cumulative GDP in the four quarters ended in March 2017 declined 2.3% over the previous four quarters. This rate resulted from the contraction of 2.1% in the Value Added at basic prices and from the decline of 4.1% in the Net Taxes on Products.

The result of the Value Added in this type of comparison derives from the following performances: Agriculture (0.3%), Industry (-2.4%) and Services (-2.3%).

In Q1 2017, GDP reaches R$ 1.6 trillion 

The Gross Domestic Product of the first quarter of 2017 added up to R$1.595 trillion:
R$1.381 trillion relative to Value Added at basic prices and R$213.6 billion to Net Taxes on Products.

Agriculture recorded R$93.4 billion, Industry R$291.1 billion and Services R$996.4 billion. 

Among the components of the expenditures, Household Consumption Expenditure added up to R$1.004 trillion, Government Consumption Expenditure, R$307.6 billion and Gross Fixed Capital Formation, R$248.6 billion.

In the first quarter of 2017, the investment rate was 15.6% of the GDP, below that reported in the same period last year (16.8%), whereas the savings rate was of 15.7% against 13.9% in the same period of 2016.

Social Communication

June 1, 2017

IBGE - Instituto Brasileiro de Geografia e Estatística