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In 2024, the GDP grew by 3.4% compared to the previous year, marking its strongest performance in the past three years, according to IBGE’s report on Friday.
The country’s Gross Domestic Product saw a 0.2% increase in the fourth quarter of 2024 compared to the third quarter, resulting in a total annual growth of 3.4% amounting to R $ 11.7 trillion, as reported by the IBGE.
Industry and Services sectors saw growth, with a 3.3% increase in Industry and a 3.7% increase in Services. Conversely, Farming experienced a 3.2% decline. The GDP reached R $ 11.7 trillion, and the per capita GDP rose to R $ 55,247.45, marking a 3.0% real increase from the previous year.
In 2024, the investment rate as a percentage of GDP increased to 17.0%, while the savings rate dropped to 14.5% from 15.0% in 2023.
In the third quarter of 2024, GDP showed a slight increase of 0.2% after seasonal adjustments. Industry and Services expanded by 0.3% and 0.1%, respectively, while Agropecuaria experienced a decline of 2.3%.
GDP increased by 3.6% in the 4th quarter of 2023 compared to the previous quarter, marking the 16th consecutive growth period. Agriculture decreased by 1.5%, while Industry and Services saw growth of 2.5% and 3.4% respectively.
Comparison every three months
| Comparison period | GDP | AGRAP | INDUS | SERVING | FBCF | CONS. _ | CONS. GOVERN |
|---|---|---|---|---|---|---|---|
| Quarter / Quarter Immediately Previous (with seasonal adjustment) | 0.2% | -2.3% | 0.3% | 0.1% | 0.4% | -1.0% | 0.6% |
| Quarter / Even Quarter of the previous year (no seasonal adjustment) | 3.6% | -1.5% | 2.5% | 3.4% | 9.4% | 3.7% | 1.2% |
| Accumulated in Four Quarters / Even Period of the previous year (no seasonal adjustment) | 3.4% | -3.2% | 3.3% | 3.7% | 7.3% | 4.8% | 1.9% |
| Current Values in the 4th Quarter (R$) | 3.1 trillion | 110.6 billion | 638.6 billion | 1.9 trillion | 528.2 billion | 2.0 trillion | 660.2 billion |
| Current Values in the Year (R$) | 11.7 trillion | 655.3 billion | 2.5 trillion | 7.0 trillion | 2.0 trillion | 7.5 trillion | 2.2 trillion |
| Investment Fee (FBCF/PIB) | 17.0% | ||||||
| Saving Rate (POUP/PIB) | 14.5% | ||||||
| GDP per capita 2024 | $ 55.247,45 | ||||||
| High GDP per capita compared with 2023 | 3.0% |
GDP grows by 3.6% compared to the previous quarter.
In the last quarter of 2024, the GDP increased by 3.6% compared to the same period in 2023, marking the 16th consecutive positive growth. Additionally, Value Added to Basic Prices and Liquid Product Taxes of Grants rose by 3.3% and 6.1% respectively.
Agropecuaria experienced a 1.5% decline compared to the previous year, mainly because of reduced yields of key crops like orange, tobacco, wheat, and cane in the last quarter. Livestock and Forest Production, however, made positive contributions.
Industry experienced a 2.5% increase during the period, with Transformation Industries showing a notable growth of 5.3%.
This was the fourth continuous rise in this comparison, fueled by growth in metallurgy, machinery and equipment manufacturing, motor vehicle production, and chemical manufacturing.
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