GDP grows 1.1% in 2019 and closes the year at R$7.3 trillion

March 04, 2020 09h00 AM | Last Updated: March 05, 2020 01h09 PM

In 2019, the GDP (Gross Domestic Product) grew 1.1% over 2018, after highs of 1.3% in 2018 and 2017, and retractions of 3.5% in 2015 and 3.3% in 2016. There were highs in Agriculture (1.3%), in Industry (0.5%) and Services (1.3%). The GDP totaled R$7.3 trillion in 2019.

Period of comparison Indicators (%)
GDP AGR IND SERV GFCF HOUS. CONS. GOV. CONS. 
QOQ (seasonally-adjusted) 0.5% -0.4% 0.2% 0.6% -3.3% 0.5% 0.4%
YOY (not seasonally-adjusted) 1.7% 0.4% 1.5% 1.6% -0.4% 2.1% 0.3%
Cumulative in four Qs / same period a year ago (not seasonally-adjusted) 1.1% 1.3% 0.5% 1.3% 2.2% 1.8% -0.4%
Current values in Q4 (R$) 1.893 trillion 60.0 billion 331.7 billion 1.223 trillion 280.6 billion 1.239 trillion 423.4 billion
Current values in the year (R$) 7.257 trillion 322.0 billion 1.301 trillion 4.590 trillion 1.114 trillion 4.712 trillion 1.472 trillion
Investment rate (GFCF/GDP) 2019 = 15.4%
Savings rate (SAV/GDP) 2019 = 12.2%

The per capita GDP changed 0.3% in real terms, reaching R$34,533 in 2019. The investment rate in 2019 was 15.4% of the GDP, above the 2018 rate (15.2%), whereas the savings rate was 12.2% (against 12.4% in 2018).  

Compared to Q3, in the seasonally-adjusted series, the GDP had a 0.5% high in the fourth quarter of 2019. Industry and Services had a positive change of 0.2% and 0.6%, respectively, while Agriculture fell (-0.4%).  

The support material of the National Accounts can be found on the right of this page.

Main GDP results at market prices from Q4 2018 to Q4 2019
Rates (%) 2018.IV 2019.I 2019.II 2019.III 2019.IV
Cumulative in the year / same period a year ago 1.3 0.6 0.8 1.0 1.1
Last four quarters/ prevous four quarters 1.3 1.1 1.1 1.0 1.1
YOY 1.2 0.6 1.1 1.2 1.7
QOQ (seasonally-adjustd) 0.0 0.0 0.5 0.6 0.5
Source: IBGE, Diretoria de Pesquisas, Coordenação de Contas Nacionais

GDP rises 1.1% in 2019

In 2019, the GDP had an increase of 1.1% in relation to the previous year. The GDP growth resulted from the 1.1% expansion of the Value Added at basic prices and of the 1.5% high in the volume of the Net Taxes on Products. The result of the Value Added in this kind of comparison is due to the performances of the three activities encompassed: Agriculture (1.3%), Industry (0.5%) and Services (1.3%).

Because of the growth, the per capita GDP reached R$34,533, (in current values) in 2019, an advance (in real terms) of 0.3% in relation to 2018.

The change in volume of the Value Added of Agriculture in the year 2019 (1.3%) is due to the positive performance of agriculture, with a highlight to corn (23.6%), cotton (39.8%), orange (5.6%) and bean (2.2%).

IN Industry (0.5%), the positive highlight was the performance of the activity Electricity and gas, water and sewage, activities of waste management, which grew 1.9% in relation to 2018. However the negative highlight was of Mining and quarrying industries, which dropped 1.1%.

 Construction grew 1.6% in the year, with its first positive result after five consecutive years of decrease. The Mining and quarrying industries, in turn, presented stability (0.1%). The result was influenced, mainly due to growth, in volume, of Value Added of the manufacture of fabricated metal products, of food products, food and petroleum derivative.

The activities that encompass Services and present positive change were:  Information and communication (4.1%), Real estate activities advanced (2.3%), Trade (1.8%), Other service activities (1.3%), Financial activities, insurance and related services (1.0%) and Transportation, storage and mailing activities (0.2%). The activity Public administration, defense, health and education and social security (0.0%) and kept stable in the year.

Among the components of the domestic demand, there was advance of the Household Consumption (1.8%) and of GFCF (2.2%), according t the positive result after 4 years of negative results. The Government Consumption had a negative change (-0.4%).

In the foreign sector, Exports of Goods and Services fell 2.5%, whereas the Imports of Goods and Services advanced 1.1%.

GDP reaches R$7.3 trillion in 2019

IN the cumulative index of the year, the GDP totaled at current values R$7.3 trillion of which R$6.2 trillion refer to the VA at basic prices and R$1.0 trillion to the Net Taxes on Products.

The investment rate in 2019 was of 15.4% of the GDP, above the rate of 2018 (15.2%). In turn, the savings rate was 12.2% (against 12.4% in 2018).

GDP grows 0.5% in relation to Q3 of 2019

The GDP grew 0.5% in the fourth quarter of 2019 in the comparison with the previous quarter (seasonally-adjusted). Industry and Services presented the positive change of 0.2% and 0.6%, respectively, whereas dropped (-0.4%).

Among the industrial activities, the high was driven Mining and quarrying industries (0.9%). The activity of Electricity and gas, water, sewerage, activity of waste management (0.6%) and Manufacture Industry (0.3%) also presented positive change.  Construction (-2.5%) fell in the period.

In Services, communication and information activities (1.9%), Transportation, storage and mailing activities (1.2%), Public administration, defense, health and education and social security (0.9%), Other service activities (0.8%), Financing activities, insurance and related services (0.8%), Real estate activities (0.3%) present positive changes, whereas the Trade activity (0.0%) remained stable.

From the perspective of the expenses, the Gross Fixed Capital Formation fell 3.3%. In turn, the Household Consumption Expenditures and the Government Consumption Expenditures grew, respectively, 0.5% and 0.4% in relation to the previous quarter.

In the foreign sector, Exports of Goods and Services grew 2.6%, whereas the Imports of Goods and Services fell 3.2% in relation to the third quarter of 2019.

In relation to Q4 of 2018, GDP grows 1.7%

Against the 4th quarter of 2018, the GDP had a high of 1.7%, the twelfth positive result in a row, after 11 quarters of decrease in this comparison basis. The Value Added at basic prices grew 1.6% and the Net Taxes on Products increased 1.9%.

Agriculture recorded positive change of 0.4% in relation to the same period last year.

The industry advanced 1.5%. The growth was leveraged by Mining and quarrying industries (3.4%) driven by the increase in the petroleum and natural gas extraction, since the mining activity is still declining.

The Manufacturing industry (1.1%) was driven by the high in the manufacture of food products, petroleum products and fabricated metal products. Construction increased 1.0%, with the third consecutive positive result in this comparison basis after the decrease by 20 quarters in a row. Electricity and water, sewerage and waste management activities, in turn, had decrease of 0.8%, resulting from worst tariff flags this quarter compared to the same quarter last year.

Services increased 1.6%, in this comparison, with a highlight to the expansion of the activity Information and communication (4.6%) and Financial activities, insurance and relates services (3.0%). The others also had a positive result: Trade (2.2%), Real estate activities (1.5%), Other service activities (1.5%), Transportation, storage and mailing activities (1.0%) and Public administration, defense, health and education and social security (0.4%).

Among the components of the intern demand, Household Consumption Expenditures (2.1%) and Government Consumption Expenditures (0.3%) had expansion, whereas Gross Fixed Capital Formation had negative change (-0.4%) in relation to the same period a year ago.

In the foreign sector, Exports of Goods and Services fell 5.1%, and the Imports of Goods and Services had a negative change of 0.2% in the fourth quarter of 2019.