Brazil’s Gross Domestic Product (GDP) ended 2021 with a 4.6% growth, totaling BRL 8.7 trillion (about USD 1.7 trillion at the current rate). This advance recovered the losses of 2020 when the Brazilian economy shrank 3.9% due to the pandemic. The per capita GDP reached BRL 40,688 (about USD 8,060); a 3.9% increase relative to the previous year (-4.6%). Data are from Brazilian Institute of Geography and Statistics (IBGE). According to the survey, economic growth was driven by expansion in services (4.7%) and industry (4.5%). All services activities thrived in 2021, particularly transport, storage, and shipping (11.4%). Agriculture, which expanded in 2020, dropped 0.2% in 2021 due to drought and frost. “Despite the annual growth in soybean production (11.0%), important crops recorded a decline in estimated production and loss of productivity in 2021, such as sugarcane (-10.1%), maize (-15.0%), and coffee (-21.1%),” said Palis.
Sources: ANBA – Brazil-Arab News Agency/Datamar News