Final Numbers In: Brazil’s Economy Grew Mere 2.3% in 2005

    The Brazilian economy ended up growing 2.3% in 2005 in comparison with 2004, when the Gross Domestic Product (GDP) – the sum of all wealth produced in the country – rose 4.9%, the highest rate in the last nine years.

    The GDP expanded 0.8% in the final quarter of 2005. according to data released on Friday (24) by the Brazilian Institute of Geography and Statistics (IBGE). The institute also revised its figures on GDP growth in the third quarter of 2005 from its previous announcement of -1.12%, to -0.9%.

    According to the institute, family spending rose for the second straight year. Last year’s increase of 3.1% was stimulated by the 5.3% growth in the mass of workers’ salaries.

    Another factor contributing to the increase was the 36.7% net growth in individual loans by the country’s financial system with repayment guaranteed by payroll discounts. Government consumption was up 1.6%.

    Gross fixed capital formation (investments) also rose, 1.6%, in comparison with 2004. Exports were up 11.6%, and imports, 9.5%, less than in 2004, when they increased, respectively, 18% and 14.3%.

    Agriculture grew 0.8% in 2005, the lowest rate since 1997 (-0.8%), while industry expanded 2.5%, and services, 2%.

    ABr

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    Ads

    You May Also Like

    Left Marches Against Lula and Vows to Stop Brazil with Strikes

    Carrying banners and flags, demonstrators taking part in the March against Corruption and the ...

    Bank of Brazil in Enaex Expo

    Enaex: Brazil Discusses How to Compete in a Globalized World

    Brazil's National Foreign Trade Meeting version 28 (Enaex), which started Thursday, November 27, at ...

    Brazil's Bandeirantes sanitary landfill

    São Paulo, Brazil, Finds Out It’s Not Easy to Be Green

    Brazilian merchant Lizete Araújo da Silva, 51, has worked for approximately ten years in ...

    Peru’s President Elect Vows to Sell Brazil Farm Produce for Half Price

    Brazilian President Luiz Inácio Lula da Silva met with the president elect of Peru, ...

    Clever Little Boy

    Brazil’s main political parties got a shock recently when Rio de Janeiro state governor ...

    Being a Monopoly Contributed to Brazil’s Varig Airline’s Demise

    If Varig is eventually declared bankrupt, passengers of the airline will suffer at least ...

    For Some Brazilian Cosmetics Companies Arab is the Open Sesame for Exports

    The Arab world doesn’t stop generating new business for Brazilian cosmetics industries. Vita Derm, ...

    Brasil Telecom Expanding Wireless Network

    Harris Corporation a provider of wireless equipment and services, today announced that Brasil Telecom ...

    RAPIDINHAS

    President Fernando Henrique Cardoso called the march undemocratic since one of its objectives was ...