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Brazil’s GDP Grows 5.4% While Investments Jump 13%

Tractor in Brazilian plantation Gross Domestic Product (GDP) grew 5.4% in 2007 in Brazil. Total value was 2.6 trillion reais (US$ 1.5 trillion) according to information from the Quarterly National Accounts of the Brazilian Institute for Geography and Statistics (IBGE), being disclosed this Wednesday, March 12.

The result is the highest since 2004, when the GDP, i.e. the sum of all wealth produced in the country, grew 5.7%. The growth rate confirms the expectation of the minister of Finance, Guido Mantega, that the economy would grow at a rate above 5%.

From the third to the fourth quarter last year, the GDP grew 1.6%. According to the IBGE, in 2007 agriculture (5.3%) performed best, followed by industry (4.9%) and services (4.7%).

The growth of agriculture was mostly driven by the crop, the highlights being wheat (62.3%), vegetable cotton (33.5%), corn beans (20.9%), sugarcane (13,2%) and soy (11.1%).

The products that saw a reduction in the crop were coffee beans (-16.7%), rough rice (-3.7%) and beans (-4.4%).

Growing Investment

Investment in the country in 2007 grew 13.4%, the highest annual rate since 1996, when the Brazilian Institute for Geography and Statistics (IBGE) started conducting surveys. Data from the Quarterly National Accounts, show that family consumption expenditures increased for the fourth year in a row.

Last year the increase was 6.5%, favored by the 3.6% rise in workers' wage mass. Public administration consumption expenditures grew 3.1% in 2007. Exports rose 6.6%, and imports, 20.7%. According to the IBGE, since 2006, exports have been growing at a lower rate than imports.

ABr

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  • Show Comments (8)

  • dnbaiacu

    Sign Of The Times
    The investment financial herd runs around the globe destroying natural resources in its path.. Brazil beware with its’ wealth of natural resources.

    But one can tell we are close to big world events to come. Destruction , exploitation, and depletion of one of the richest resoures on this planet is NOT going to be completed. Far too sacred of an area.

    Rev. 11:17,À‚ 18: À¢€œWe thank you, Lord, the Almighty, the One who is and who was, because you have taken your great power and begun ruling as king. But the nations became wrathful, and your own wrath came, and the appointed time .À‚ .À‚ . to bring to ruin those ruining the earth.À¢€Â

  • dnbaiacu

    Data from the Quarterly National Accounts, show that family consumption expenditures increased for the fourth year in a row.

    Consumers beware! Learn from what is happening in the U.S.! It is just a trap. Spare yourself the misery. Use all this credit they are dishing out to buy something to make money off of. ONLY! I am desperately trying to get this across to relatives. Many are buying cars and such as if all of a sudden they have become dire necessities. It is all a set up. Enjoy this ride while it last. But be wise.

  • João da Silva

    Jon
    Thanks for the explanation. I wonder if our planners are aware of these predictions of BRIC becoming just RIC in 2050 😉

  • jon

    BRICS
    YEAR 2050 , BRAZIL, RUSSIA, CHINA AND INDIA AS LARGEST ECONOMIES IN THE WORLD WITH BRAZIL AND RUSSIA BEING THE LOGICAL SUPPLIER OF VARIOUS COMMODITIES TO THE GIANTS OF CHINA AND INDIA..I AM NOT SURE WHERE SWITZERLAND FITS IN , THE US, GERMANY, FRANCE,ETC MOVE DOWN THE LIST..CANADA LAST VISITED BY THE BILDERBURGS WILL BE THE NEW SAUDI ARABIA WITH ITS OIL SANDS DEPOSITS

  • João da Silva

    Jon
    [quote]Goldman Sachs was right about the “B” in the BRICS[/quote]

    Jon, since you continue insisting in interfering in the domestic affairs of our country, please give me some more info on Goldman Sachs being right about “B” 😉

  • João da Silva

    dnbaiacu
    [quote]Consumers beware! Learn from what is happening in the U.S.! It is just a trap. Spare yourself the misery. Use all this credit they are dishing out to buy something to make money off of. ONLY! I am desperately trying to get this across to relatives. Many are buying cars and such as if all of a sudden they have become dire necessities. It is all a set up. Enjoy this ride while it last. But be wise.[/quote]

    Dn, your two posts are interesting and your mom being a Brazilian, you are obviously aware of the history of Brazil ( I mean the economic evolution). I do not even want to bring in the religion into this issue. But your advice to your relatives is very sane.The way consumerism is being pandered by the Media and the government is very very scary. The examples are selling cars in 100 monthly installments or cell phones in 10 installments and keeping the gas price up and charge an exorbitant call rate per minute.I can cite many examples, but you surely would know through your relatives in Brazil.

    btw, Ch.c talked (in another thread) about the history of Brazilian government confiscating the money in your bank account every 20 years. We are just 2 years short of that cycle!

  • jon

    Goldman Sachs was right about the “B” in the BRICS…..on a lighter note snakes are invading Belem

  • João da Silva

    Brazil’s GDP Grows 5.4% While Investments Jump 13%
    Everything is jumping up. The year 2008 is very promising.

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