In Q1 2025, GDP grew by 1.4% against Q4 2024, in the seasonally adjusted series. From the perspective of output, the highlight was Agriculture (12.2%). There was also an increase in Services (0.3%) whereas Industry (-0.1%) did not record any significant changes. 

GDP amounted to R$ 3.0 trillion in Q1 2025, with R$ 2.6 trillion relative to Value Added at basic prices and R$ 431.1 billion to Product taxes net of subsidies. In the same period, the investment rate was 17.8% of the GDP, above the 16.7% in Q1 2024. Savings rate was 16.3%, surpassing the 15.5% of the smae quarter in 2024.

Against Q1 2024, GDP advanced 2.9%, with increases in Agriculture (10.2%), Industry (2.4%) and Services (2.1%).

GDP grows 1.4% against Q4 2024 

In Q1 2025, GDP grew by 1.4% from Q4 2024, in the seasonally adjusted series. From the perspective of output, a highlight is the increase of Agriculture (12.2%). There was also increase in Services (0.3%), whereas Industry (-0.1%) remained stable.

Among industrial activities, there were drops in Manufacturing Industry (-1.0%) and Construction (-0.8%). Electricity and gas, water, sewage, waste management activities (1.5%) and Mining and quarrying industry (2.1%) had positive performances. 

In Services activities, increases were observed in Information and communication (3.0%), Other services activities (0.8%), Real estate activities (0.8%), Administration, defense, public health and education and social security (0.6%) and Trade (0.3%).  There was stability in Financial, insurance and related services (0.1%) and a drop in Transportation, storage and mailing (-0.6%).

Family Consumption Expenditure (1.0%) and Gross Fixed capital Formation (3.1%) increased, whereas Government Consumption Expenditure (0.1%) recorded stability. 

In the foreign sector, Exports of Goods and Services (2.9%) and imports of Goods and Services (5.9%) increased, both against Q4 2024.

GDP grows 2.9% from Q1 2024

Against the same period in 2024, GDP grew by 2.9% in the first quarter of 2025. Value added at basic prices increased by 2.9% and Product taxes net of subsidies increased by 2.9%.

Agriculture grew by 10.2% against the same period in 2024, mainly due to the good performance of some crop products in the first quarter and of yield. In the Systematic Survey of Agricultural Production (LSPA) released in May by the IBGE, among products  with crops in Q1 and increase in the estimate of annual output, where stand out: soybean (13.3%), corn (11.8%), rice (12.2%) and tobacco (25.2%).

In the same comparison, Indústria grew by 2.4% and Construction (3.4%) had the sixth consecutive increase, corroborated by the expansion in employment in the activity and in production of typical inputs. In second place, Manufacturing industry (2.8%), mainly due to machinery and equipment, basic metals, besides chemicals and pharmaceuticals. The activity of Electricity and gas, water, sewage, waste management activities  increased 1.6%, driven by residential consumption. Mining and quarrying industry (0.2%) recorded stability, with their positive change based on the extraction of oil and gas, but with effects mitigated by decrease in the extraction of iron ore.

Value added of Services increased by 2.1% against the same period a year ago. All the activities recorded increase: Information and communication (6.9%), Real estate activities (2.8%), Other services activities (2.5%), Trade (2.1%), Financial activities, insurance and related services (2.1%), Transportation, storage and mailing (1.1%) and Administration, defense, public health and education and social security (0.5%).

The remainder is temporarily in Portuguese. 

No primeiro trimestre de 2025, a Despesa de Consumo das Famílias cresceu 2,6%, influenciado pelo aumento na massa salarial real, no aumento do crédito disponível, apesar dos juros maiores. A Despesa de Consumo do Governo (1,1%) também apresentou elevação em relação ao primeiro trimestre de 2024.

A Formação Bruta de Capital Fixo avançou 9,1% no primeiro trimestre de 2025, quinta alta nessa comparação, tendo obtido taxas 10,8% e 9,4% no terceiro e quarto trimestres de 2024. O desempenho foi puxado pelo crescimento da atividade de Construção, da produção nacional e importações de bens de capital, com destaque para importação de plataforma de petróleo, além da alta no desenvolvimento de softwares.

As Exportações de Bens e Serviços cresceram 1,2%, enquanto as Importações avançaram 14,0% no primeiro trimestre de 2025. Nas exportações de bens, as maiores contribuições vieram de veículos automotores; agropecuária; papel e celulose; e derivados do petróleo. Nas importações de bens, a alta se deu principalmente por: outros equipamentos de transporte; máquinas e aparelhos elétricos; produtos químicos; e máquinas e equipamentos.  

PIB acumula alta de 3,5% em quatro trimestres, frente ao mesmo período de 2024 

O PIB acumulado nos quatro trimestres terminados em março de 2025 cresceu 3,5% em relação aos quatro trimestres imediatamente anteriores. Esta taxa resultou dos avanços de 3,2% do Valor Adicionado a preços básicos e de 5,2% nos Impostos sobre Produtos Líquidos de Subsídios. O resultado do Valor Adicionado nesta comparação decorreu dos seguintes desempenhos: Agropecuária (1,8%), Indústria (3,1%) e Serviços (3,3%).

As atividades industriais com crescimento nessa comparação foram Construção (4,6%), Indústria da Transformação (4,0%) e Eletricidade e gás, água, esgoto, atividades de gestão de resíduos (2,4%) apresentaram crescimento. Já as Indústrias Extrativas (-0,8%) recuaram.

Todas as atividades de Serviços tiveram resultados positivos: Informação e comunicação (6,6%), Outras atividades de serviços (4,6%), Comércio (3,6%), Atividades financeiras, de seguros e serviços relacionados (3,4%), Atividades imobiliárias (3,1%), Transporte, armazenagem e correio (2,1%), Administração, defesa, saúde e educação públicas e seguridade social (1,3%).

O Consumo das Famílias, o Consumo do Governo e a Formação Bruta de Capital Fixo cresceram 4,2%, 1,2% e 8,8%, respectivamente. Já as Exportações de Bens e Serviços cresceram 1,8%, enquanto as Importações de Bens e Serviços apresentaram elevação de 15,6%.