GDP increases by 4.6% in 2021 and closes the year at R$8.7 trillion
March 04, 2022 09h00 AM | Last Updated: March 05, 2022 09h55 PM
The Gross Domestic Product - GDP rose 4.6% in 2021 from 2020. Industry (4.5%) and Services (4.7%) recorded increases and Agriculture, a negative change (-0.2%).
|Comparison period||Indicators (%)|
|GDP||AGRICULTURE||INDUSTRY||SERVICES||GFCF||HOUSEHOLD CONS.||GOV CONS.|
|Quarter / previous quarter (seasonally-adjusted)||0.5%||5.8%||-1.2%||0.5%||0.4%||0.7%||0.8%|
|Quarter / same quarter a year ago (not seasonally-adjusted)||1.6%||-0.8%||-1.3%||3.3%||3.4%||2.1%||2.8%|
|Cumulative in four quarters / same period a year ago (not seasonally adjusted)||4.6%||-0.2%||4.5%||4.7%||17.2%||3.6%||2.0%|
|Current values in Q4 (R$)||2.3 trillion||81.0 billion||416.9 billion||1.4 trillion||428.7 billion||1.5 trillion||484.5 billion|
|Current values in the year (R$)||8.7 trillion||598.1 billion||1.6 trillion||5.2 trillion||1.7 trillion||5.3 trillion||1.7 trillion|
|Investment rate (FBCF/PIB) 2021 = 19.2%|
|Savings rate (POUP/PIB) 2021 = 17.4%|
GDP amounted to R$ 8.7 trillion in 2021.
GDP per capita reached R$ 40,688,1 in 2021, a real increase of 3.9% from the previous year.
The investment rate in 2021 amounted to 19.2% of the GDP, above the figure in the previous year (16.6%). The savings rate was 17.4% (against 14.7% in 2020).
Against Q3, in the seasonally adjusted series, GDP increased 0.5%. Agriculture and Services rose 5.8% and 0.5%, respectively, whereas Industry fell by 1.2%.
Against Q4 2020, GDP increased 1.6% in the last quarter of 2021, fourth positive result in a row, after four negative rates in this comparison. Agriculture (-0.8%) and Industry (-1.3%) recorded decreases, whereas Services rose (3.3%).
|Main results of GDP at market prices from Q4 2020
to Q4 2021
|Cumulative in the year / same period a year ago||-3.9||1.3||6.5||5.7||4.6|
|Last four quarters / four immediately previous quarters||-3.9||-3.5||1.9||3.9||4.6|
|Quarter / same quarter a year ago||-0.9||1.3||12.3||4.0||1.6|
|Quarter / immediately previous quarter (seasonally-adjusted)||3.0||1.4||-0.3||-0.1||0.5|
|Source: IBGE, Diretoria de Pesquisas, Coordenação de Contas Nacionais|
GDP grew by 4.6% in 2021
GDP in 2021 grew by 4.6% against the previous year, Value Added at basic prices increased 4.3% and Product Taxes less Subsidies, by 6.4%.
The result of Value added in this type of comparison reflected the performance of the three activities that comprise it: Agriculture (-0,2%), Industry (4.5%) and Services (4.7%).
Consequently, GDP per capita advanced (in real terms) by 3.9% from 2020 and reached R$ 40,688.1 (at current figures) in 2021.
The negative change of Value Added of Agriculture in 2021 (-0.2%) was a consequence of the weak performance of some crops (sugarcane, corn and coffee) and livestock (cattle and milk), mainly due to harsh climate conditions
In industry, a highlight was the performance of Construction (9.7%), after a decrease of 6.3% in the previous year. Manufacturing industry (4.5%) also recorded a positive result, mainly due to the increased production of machinery and equipment; basic metals; manufacture of other transportation equipment; and manufacture of non-metallic mineral products, car industry.
Mining and quarrying industry rose 3.0% due to the increased extraction of iron ore. The activity of Electricity and gas, water, sewage and waste management (-0.1%) was stable from 2020, being negatively affected by the water crisis.
All activities in Services recorded increases: Information and communication (12.3%), Transportation, Storage and Mailing (11.4%), Other Services Activities (7.6%), Trade (5.5%), Real estate activities (2.2%) Administration, defense, public health and education, and Social Security (1.5%) and Financial Activities, Insurance and Related Services (0.7%).
From the perspective of expenditure, there was an increase of 17.2% in Gross Fixed Capital Formation, which fell once again after having fallen 0.5% in the previous year. Household consumption expenditure advanced 3.6% from the previous year. In turn, Government Consumption Expenditure increased 2.0%.
In the foreign sector, Exports of Goods and Services rose 5.8%, whereas Imports of Goods and Services increased 12.4%.
GDP reaches R$8.7 trillion in 2021
GDP at current figures, cumulative in the year, amounted to R$ 8.7 trillion, being R$7.4 trillion relative to Value added - VA at basic prices and R$1.3 trillion to Product taxes net of subsidies.
The investment rate in 2021 was 19.2% of the GDP , above that reported in the previous year (16.6%). Savings rate was 17.4% in 2021 (against 14.% in 2020).
GDP grows by 0.5% against Q3 2021
In the seasonally-adjusted series, GDP rose 0.5% in Q42021, compared with the previous quarter. Agriculture and Services recorded increases of 5.8% and 0.5%, respectively, whereas Industry fell 1.2%.
Among the activities of Industry, there were decreases in Manufacturing Industry (-2.5%), Mining and quarrying industry (-2.4%), and negative changes in the activity of Electricity and gas, water, sewage and waste management (-0.2%). The only positive result was that of Construction (1.5%).
In Services, the activities of Information and communication (3.4%), Transportation, storage and mailing (2.6%), Other services activities (2.1%) and Administration, defense, health and social security (1.0%) recorded increases.
On the other hand, trade recorded a decrease (-2.0%), followed by the negative change in Real estate activities (-0.4%) and stability in Financial, insurance and related services activities (0,0%).
From the perspective of expenditure, there was an increase in Household Consumption Expenditure and Government Consumption Expenditure (0.8%). Gross fixed Capital Formation recorded stability (0.4%).
Exports of Goods and Services fell 2.4%, whereas Imports of Goods and Services increased 0.5% in relation to Q3 2021.
GDP 1.6% up against Q4 2020
Against Q4 2020, GDP grew by 1.6%, fourth positive result in a row after four quarters of negative results in this comparison. Value Added at basic prices increased 1.6% and the Product Taxes less Subsidies, by 2.2%.
Agriculture fell by 0.8% against the same period in 2020, with a highlight to products with significant harvests in Q4, such as sugarcane (-10.1%) and cassava (-2.4%). On the other hand, crops such as wheat, tobacco and onions recorded increases.
Industry fell 1.3%, driven by the decrease in Manufacturing Industry (-6.9%), whose negative result in Q4 was influenced by the decrease in manufacture of food products; manufacture of metal products; manufacture of rubber products and plastic material and electric machinery, appliances and equipment.
Construction (12.2%) kept on an upward trend, after increases of 13.5% and 10,9% in the second and third quarters of 2021, respectively. Mining and quarrying industry (4.5%) and Eletricity and gas, water, sewage and waste management (0.7%) also rose in the period.
Services grew by 3.3% against the same period a year ago. The increase was influenced by the positive results of Information and communication (13.8%), Other service activities (9.7%), Transportation, storage and mailing (9.3%), Administration, defense, public health and education and social security (2.0%) and Real estate activities (0.2%). The other ones recorded negative rates: Trade (-2.9%), Financial Activities, Insurance and Related Services (-0.4%).
Among the components of the domestic demand, Household consumption expenditure (2.1%) Government expenditure (2.8%) and and Gross fixed capital formation (3.4%) increased in relation to the same period last year
In the foreign sector, Exports of goods and services increased 4.1%, whereas Imports of goods and services advanced 8.5%.