Despite Recent Downturn, Brazil’s GDP Totaled US$ 622 Billion Up to September

The Brazilian Institute of Geography and Statistics (IBGE) announced that the Gross Domestic Product (GDP), which represents the sum of goods and services produced in Brazil, amounted to US$ 218.40 billion (497.5 billion reais) in the third quarter of this year (July-September).

During the third quarter of 2004, the GDP totaled US$ 200.62 billion (457 billion reais).

The cumulative GDP for the first three quarters of this year (January-September) comes to US$ 621.63 billion (R$ 1.416 trillion).

Earlier this month, Brazil’s Minister of Development, Industry and Foreign Trade, Luis Fernando Furlan, declared that the drop in GDP growth of 1.2% in the third quarter of this year was not an accident, but "the result of a deliberate effort to clamp down on inflation." Or, in other words, said the Minister, "monetary measures which put a brake on the economy."

Asked what has been worse for the Brazilian economy in 2005, the interest rate or the exchange rate, Furlan responded that on one hand it was certainly the high interest rates, which inhibited sales domestically, while exporters suffered with the valorization of the real.

"We are between a rock and a hard place on the domestic market because of financial costs, while in the export sector we have serious difficulties with profitability because our currency has increased sharply in value against the dollar," declared the Minister.

Furlan pointed out that in spite of the problems some sectors, such as vehicles, were doing very well. But others, such as footwear, were facing big problems. Furlan concluded by saying he was optimistic about 2006.

ABr

Tags:

You May Also Like

Brazil Gets Record Primary Surplus in March: Over US$ 6.2 Billion

Brazil’s non-financial government sector saved US$ 6.223 billion (13.186 billion reais) in March. This was ...

Chinese Airline Gets First of Five Brazilian Jets Ordered

Brazilian aircraft maker Embraer delivered, August 28, the first of five Embraer 190 jets ...

Making the Brazilian Desert Bloom and Bear Food

The temperature is high: 113 degrees F in the hottest months. The rain only ...

Ah!Mazon

Despite all the uproar in the last two decades and a half, the Amazon ...

Brazil’s Lula to Colleagues: ‘Grab the Phone and Call US and EU Leaders’

Brazilian President Luiz Inácio Lula da Silva appealed to other Mercosur leaders to press ...

The Real Thing

When Bush talks about "leaving no child behind," you can as much as see ...

Brazil’s Outlook Upgraded from Stable to Positive by Fitch

Brazil's long-term foreign and local sovereign Issuer Default Ratings outlook has been upgraded, today, ...

LAN Peru Now Flies Los Angeles-Brazil Six Days a Week

LAN Peru, a member of the LAN Airline Alliance, has just announced a  new ...

Some Lessons from Brazil to Fight World Poverty

Brazilian President Luiz Inácio Lula da Silva announced that, during his visit to New ...

Ex-Treasury Secretary in Brazil Punches and Kicks Journalist after Incriminating Report

The Brazilian Association of Investigative Journalism has informed that on October 21, 2009, Brazilian ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`