In the third quarter of 2025, the GDP changed 0.1% over the second quarter of  2025, in the seasonally-adjusted series. From the production perspective, there were positive results in Agriculture (0.4%) and in Industry (0.8%), whereas Services (0.1%) did not post a significant change.

The GDP  totaled R$ 3.2 trillion in the third quarter of 2025, of which R$ 2.8 trillion were from Value Added at basic prices and R$ 449.3 billion, from Net Taxes on Products. The investment rate in the third quarter of 2025 was of 17.3% of the GDP, slightly below the 17.4% of the same quarter of 2024. The savings rate, in turn,  was 14.5%, like that of the third quarter of 2024.

Over the same quarter of 2024, the GDP advanced 1.8%, with growth in Agriculture (10.1%), Industry (1.7%) and Services (1.3%).

GDP shows stability of 0.1% compared to Q2 2025

The GDP changed by 0.1% compared to the second quarter of 2025, in the seasonally adjusted series. Agriculture (0.4%) and Industry (0.8%) showed positive changes, while Services (0.1%) remained stable.

Within Industry, there was positive performance in Mining and Quarrying Industries (1.7%), Construction (1.3%), and Manufacturing Industries (0.3%). The Electricity, gas, water, sewage, and waste management activities (-1.0%) declined.

In Services, the following sectors grew: Transportation, storage and mailing (2.7%), Information and communication (1.5%), Real estate activities (0.8%), Trade (0.4%), Public administration, defense, health and education, and social security (0.4%), and Other service activities (0.2%). On the other hand, Financial activities, insurance and related services declined (-1.0%).

From the expenditure perspective, Household Consumption Expenditure showed a positive change of 0.1%, Government Consumption Expenditure grew by 1.3%, and Gross Fixed Capital Formation increased by 0.9% compared to the preceding quarter.

In the external sector, there was an increase in Exports of Goods and Services (3.3%) and in Imports of Goods and Services (0.3%) compared to the second quarter of 2025.

GDP grows 1.8% compared to the 3rd quarter of 2024

Compared to the same period of the previous year, the GDP grew by 1.8% in the third quarter of 2025. The increase in Value Added at basic prices was 1.9% and in Net Taxes on Products was 1.4%.

Agriculture grew by 10.1% compared to the same period in 2024. In addition to the positive contribution of livestock farming, the Systematic Survey of Agricultural Production (LSPA/IBGE), released in November, indicated increases in the production and productivity of some agricultural products with significant crops in the analyzed quarter, such as: corn (23.5%), oranges (13.5%), cotton (10.6%), and wheat (4.5%). Conversely, there was a decline in sugarcane cultivation (-1.0%), whose harvest is also significant in this quarter.

Industry saw an increase of 1.7%. Among its activities, Mining and Quarrying industries presented the best result in terms of added value volume (11.9%) during the period, due to the increase in petroleum and gas extraction. Construction also grew (2.0%), a performance evidenced by the increase in employment and real wages. On the other hand, there was a decrease in manufacturing industries (-0.6%), mainly due to the contraction in the production of coke and petroleum derivatives; Fabricated metal products, beverages, and wood products. Electricity and gas, water, sewage, and waste management activities fell by 1.0%, influenced by the tariff flags that remained red throughout the quarter.

The added value of Services advanced 1.3% compared to the same period in 2024, with positive results in Information and communication (5.3%), Transportation, storage and mailing (4.2%), Real estate activities (2.0%), Other service activities (1.1%), Trade (0.9%), Financial, insurance and related services (0.4%), and Public administration, defense, health and education and social security (0.3%).

Household Consumption Expenditure had its 18th positive change (0.4%), mainly corroborated by increases in real wagebill, government cash transfers and credit to households. Government Consumption Expenditure, in turn, grew by 1.8%.

Gross Fixed Capital Formation grew 2.3% in the third quarter of 2025, driven by increases in Construction, capital goods imports, and software development, despite a decline in capital goods production.

In the external sector, Exports of Goods and Services (7.2%) and Imports of Goods and Services (2.2%) grew. Among exports, the best results were from petroleum and gas extraction; motor vehicles; agriculture; and pulp. Among imports, the highlights were: non-metallic mineral extraction; chemical products; other transportation equipment; and machinery and equipment.

GDP accumulates a 2.7% increase over four quarters, compared to the same period in 2024

The cumulative GDP in the four quarters ending in September 2025 grew 2.7% compared to the four preceding quarters. This rate resulted from the increase in Value Added at basic prices (2.7%) and in Net Taxes on Products (2.9%). These results stemmed from the performance of Agriculture (9.6%), Industry (1.8%), and Services (2.2%).

Among industrial activities, Mining and Quarrying industries (4.5%), Construction (2.5%), and Manufacturing industries (1.6%) grew. On the other hand, there was a decrease in Electricity and gas, water, sewage, and waste management activities (-2.2%).

In Services, there were increases in Information and communication (6.2%), Financial, insurance and related services (2.7%), Transportation, storage and mailing (2.7%), Other service activities (2.6%), Trade (2.2%), Real estate activities (2.0%), and Administration, defense, public health and education, and social security (0.7%).

From the demand perspective, there were increases in Household Consumption Expenditure (2.1%), Government Consumption Expenditure (1.2%), and Gross Fixed Capital Formation (6.0%). In the external sector, both Exports of Goods and Services (2.5%) and Imports of Goods and Services (8.6%) grew during the period.

GDP accumulates growth of 2.4% through September

In the cumulative rate over the year up to the third quarter of 2025, the GDP grew 2.4% compared to the same period in 2024. In this comparison, Agriculture (11.6%), Industry (1.7%), and Services (1.8%) showed growth.

The Industry activities that registered positive results throughout the year were: Mining and Quarrying industries (7.4%), Construction (1.7%), and Manufacturing industries (0.5%). Electricity and gas, water, sewage, and waste management activities registered a decrease of 0.8%.

In the Services sector, the results were: Information and communication (6.2%), Financial activities, insurance and related services (2.4%), Transportation, storage and mailing (2.2%), Real estate activities (2.0%), Other service activities (2.0%), Trade (1.4%), and Public administration, defense, health and education and social security (0.3%).

In the quarter, GDP reaches R$ 3.2 trillion

The Gross Domestic Product in the third quarter of 2025 totaled R$ 3,235.7 billion, with R$ 2,786.4 billion relative to Value Added at basic prices and R$ 449.3 billion, to Net Taxes on Products.

The investment rate in the third quarter of 2025 was 17.3%, which represents a slight reduction compared to the same period in 2024 (17.4%). The savings rate was 14.5%, matching the rate (14.5%) of the same period in 2024.

IBGE revises the National Accounts in the third quarter of each year

The Quarterly National Accounts routinely include a more comprehensive revision in the third quarter of each year, incorporating the new weights from the Annual National Accounts from two years prior.

However, due to the project to change the base year of the Accounts System from 2010 to 2021, additional work led to the definition of a transition period in which the publication of the annual series is temporarily suspended. Therefore, the revision of the quarterly series was carried out only with updates to the adopted data series.

Table I.1 shows the revision, for the year 2024, of the GDP growth rates and their main components from the supply and demand perspectives.

Table I.2 shows the revised GDP growth rates and their main components for the first and second quarters of 2025, from both supply and demand perspectives.