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%).

Household 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%).

In Q1 2025, Household Consumption Expenditure grew 2.6%, driven by the increase of real wagebill, in the increase of available credit, despite higher interests. Government Consumption Expenditure (1.1%) also rose against Q1 2024.

Gross Fixed Capital Formation advanced 9.1% in Q1 2025, firth increase in this comparison, having recorded rates of 10.8% and 9.4% in the third and fourth quarters of 2024. The performance resulted from the expansion of Construction, of national output and imports of petroleum platforms, besides the rise in software development.

Exports of Goods and Services grew by 1.2%, whereas Imports advanced 14.0% in the first quarter of 2025. In exports of goods, the biggest contributions came from motor vehicles; agriculture; pulp and paper; and petoleum products. In imports of goods, the rise came mainly from: other transportation equipment; electric machinery and appliances; chemical products; and machinery and equipment.  

GDP has cumulative increase of 3.5% in four quarterd against the same period in 2024 

Cumulative GDP in four quarters ended March 2025 increased by 3.5% from the four immediately previous quarters. The rate resulted from the advances of 3.2% in Value added at basic prices and of 5.2% in Product taxes net of subsidies. the result of Value added in this comparison resulted from the performance of: Agriculture (1.8%), Industry (3.1%) and Services (3.3%).

Industrial activities with an increase in this comparison were Construction (4.6%), Manufacturing Industry (4.0%) and Electricity, gas, water, sewage and waste management (2.4%) recorded increase. Mining and quarrying industry (-0.8%) decreased.

All the Services activities recorded positive results: Information and communication (6.6%), Other services activities (4.6%), Trade (3.6%), Financial, insurance and related services (3.4%), Real activities (3.1%), Transportation, storage and mailing (2.1%), Administration, defense, public health and educaton and social security (1.3%).

Household Consumption, Government Consumption and Gross Fixed Capital Formation grew by 4.2%, 1.2% and 8.8%, respectively. Exports of Goods and Services grew by 1.8%, whereas Imports of Goods and Services increased by 15.6%.