GDP advances 1.0% in 2017, closes year at R$6.6 trillion
March 01, 2018 09h00 AM | Last Updated: March 05, 2018 11h06 AM
The Gross Domestic Product - GDP increased 1.0% in 2017 in relation to 2016, after two consecutive drops of 3.5% in 2015 and 2016. In this comparison, Agriculture (13.0%) and Services (0.3%) rose and Industry (0.0%) remained stable. The GDP added up to R$6.6 trillion in 2017.
|GDP||AGRICULTURE||INDUSTRY||SERVICES||GFCF||CONSUMPTION HOUSEHOLDS||CONSUMPTION GOVERNMENT|
|Quarter / immediately previous quarter
(with seasonal adjustment)
|Quarter / same quarter a year ago
(without seasonal adjustment)
|Cumulative in 4 quarters/same period a year ago
(without seasonal adjustment)
|Current values in the quarter (R$ billion)||1,702.6||48.6||310.2||1,088.0||268.0||1,089.5||370.8|
|Current values in the year (R$ billion)||6,559.9||299.5||1,212.0||4,137.1||1,025.6||4,161.2||1,315.1|
|INVESTMENT RATE (GFCF/GDP) 2017 = 15.6%|
|SAVINGS RATE (SAVING/GDP) 2017 = 14.8%|
The per capita GDP changed 0.2% in real terms, reaching R$31,587 in 2017.
The investment rate was 15.6% of the GDP in 2017, below that reported last year (16.1%).
The savings rate was 14.8% in 2017, against 13.9% in the previous year.
In the seasonally-adjusted series, the GDP rose 0.1% in the fourth quarter of 2017 over the third quarter. It was the fourth consecutive positive figure in this comparison, in which Industry and Services increased 0.5% and 0.2%, respectively, and Agriculture remained stable (0.0%).
After remaining stable for a quarter and dropping for 11 quarters, the GDP rose 2.1% in the last quarter of 2017 in relation to the fourth quarter of 2016, the second positive figure in this comparison. Agriculture (6.1%), Industry (2.7%) and Services (1.7%) increased.
The complete publication and support material of the Quarterly Accounts are on the right side of this page.
GDP rises 1.0% in 2017
The GDP rose 1.0% in 2017 in relation to 2016. This rise was due to the expansion of 0.9% in the value added at basic prices and of 1.3% in Product taxes net of subsidies. The result of the value added reflected the performance of the three activities that comprise it: Agriculture (13.0%), Services (0.3%) and Industry (0.0%).
The per capita GDP advanced 0.2% in real terms, reaching R$31,587. The per capita GDP is the division of the current value of the GDP by the resident population in the middle of the year.
The rise in Agriculture and livestock farming was mainly due to the performance of agriculture, highlighted by corn (55.2%) and soybean (19.4%) crops.
In Industry, the highlights were the rise in Mining and quarrying industries (4.3%) and the drop in Construction (-5.0%). Electricity and gas, water, sewage and waste management activities, and Manufacturing industry advanced 0.9% and 1.7%, respectively.
Among the activities that comprise Services, Trade increased 1.8%, followed by Real estate activities (1.1%), Transportation, storage and mailing (0.9%) and Other services activities (0.4%). The major negative results were Financial activities, insurance and related services (-1.3%), Information and communication (-1.1%) and Public administration, defense, health and education, and social security (-0.6%).
From the perspective of domestic demand, Gross fixed capital formation retreated 1.8%, leveraged by the drop in Construction, and Government consumption expenditure fell 0.6%. Household consumption expenditure rose 1.0% over the previous year – when it had fallen 4.3% –, which could be explained by the behavior of inflation, interest, credit, employment and income indicators in 2017.
In the foreign sector, Exports of goods and services increased 5.2%, whereas Imports of goods and services advanced 5.0%.
GDP reaches R$6.6 trillion in 2017
The GDP added up to R$6,559.9 billion in 2017. The investment rate was 15.6% of the GDP in 2017, below that reported in the previous year (16.1%). The savings rate was 14.8% in 2017, against 13.9% in the previous year.
GDP rises 0.1% over Q3 2017
In the seasonally-adjusted series, the 0.1% rise in the fourth quarter of 2017 compared with the immediately previous quarter was due to the advance in Industry (0.5%) and Services (0.2%) and to the stability in Agriculture (0.0%).
In Industry, Electricity and gas, water, sewage and waste management activities increased 0.3% and Manufacturing industry, 1.5%. Mining and quarrying industries fell 1.2%. Construction remained stable (0.0%).
In Services, only Financial activities, insurance and related services (-0.3%) and Other services activities (-0.7%) dropped. Among the rises, Transportation, storage and mailing (0.9%), Real estate activities (0.9%), Information and communication (0.5%), Public administration, defense, health, education, and social security (0.4%) and Trade (0.3%) stood out.
Among the components of domestic demand, Gross Fixed Capital Formation rose 2.0%. Government consumption expenditure increased 0.2%, while Household consumption expenditure remained virtually stable (0.1%).
Concerning the foreign sector, Exports of goods and services decreased 0.9% and Imports of goods and services increased 1.6%.
GDP advances 2.1% over Q4 2016
Having risen 2.1% against the fourth quarter of 2016, value added at basic prices (1.9%) and product taxes net of subsidies (3.3%) also rose.
Agriculture increased 6.1%. The agricultural products with more significant harvests and that registered an estimated growth in the annual output were tobacco (29.0%) and oranges (8.2%).
Industry rose 2.7%, leveraged by Manufacturing industry, which increased 6.0%. Construction fell 1.6% in volume of value added, recording the fifteenth quarter of drops in a row. Mining and quarrying industries also dropped (-0.1%). Electricity and gas, water, sewage and waste management activities also remained stable (0.0%).
Services advanced 1.7%, highlighted by the activities of Transportation, storage and mailing (4.4%), Trade – wholesale and retail (4.4%), Real estate activities (2.1%), Information and communication (1.5%), Other services activities (1.0%), Financial activities, insurance and related services (0.3%) and Public administration, defense, health, education, and social security (0.3%).
Among the components of domestic demand, Household consumption expenditure (2.6%) and Gross fixed capital formation (3.8%) increased, the latter posting the first rise after 14 consecutive quarters of drops. Government consumption expenditure retreated 0.4%.
In the foreign sector, Exports of goods and services rose 9.1%, registering the fourth consecutive quarter of rises, whereas Imports of goods and services advanced 8.1%.