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Economic indicators

Brazilian economy grows 2.7% in 2011, IBGE shows

03/07/2012

This article was translated by an automatic translation system, and was therefore not reviewed by people.

 


 



In current values, GDP reached R$ 4.143 trillion.
Among the analyzed sectors, agriculture recorded the highest growth.

The Brazilian economy grew 2.7% in 2011, as reported to the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday (6). In current values, the sum of the wealth produced in the last year reached R$ 4.143 trillion and GDP per capita (per person) was R$ 21,252. In 2010, the advance Gross Domestic Product (GDP) was 7.5%.

By sectors, agriculture led growth in the year, up 3.9%, followed by services (2.7%) and industry (1.6%).

The IBGE attributed the growth of agriculture to increase production of different crops and productivity gains. "In agriculture, when you see an increase in production, with a decrease in planted area, there is an increase in productivity," said Roberto Luis Olinto Ramos, coordinator of National Accounts of IBGE.

In the same period, the analysis of demand, household consumption expenditure grew 4.1% - the eighth consecutive year high. The consumption expenditure of government subiu1, 9% and gross fixed capital formation grew by 4.7%.
"Household consumption has slowed down one, but the rate remained high. The interest rate is one of the things that explain the reduction. The higher inflation and the global crisis are also factors that influence," said the coordinator.

The forecast financial market, presented the day before, through the Focus bulletin, the Central Bank was that the GDP would have expanded by 2.82%. The expectation of the Central Bank, which publishes the "preview of GDP," pointed to an expansion of 2.79%. The official estimate of the institution for economic growth last year, however, was 3%.

For Guido Mantega, Minister of Finance, the estimate was close to this value. In February, the Minister pointed out that an expected expansion "around 3%" of GDP for 2011, with an acceleration of growth in the fourth quarter. This is because, according to the IBGE, the economy stagnated from July to September, with zero growth.

Details of GDP, 2011
Among the sectors surveyed by the IBGE, the service, which showed an increase of 2.7%, had the greatest influence coming from information services, up 4.9%, and financial intermediation and insurance, an increase of 3.9 %.

Within this sector, trade increased by 3.4%, followed by transport, storage and mailing services (2.8%).

"Throughout the year 2011, the growth of the employed population and the mass of real wages, along with the expansion of consumer credit, sustained sales growth in trade," said the IBGE, by note. Other services and administration, public health and education grew, both 2.3%. As a result, appear real estate and rents (1.4%).
In industry, third sector surveyed by the IBGE, the highlight was electricity and gas, water, sewage and urban (3.8%) and construction (3.6%). "The performance of construction in 2011 is confirmed by the increase of the population employed in industry, he accumulated a 3.9% growth," said the IBGE.

Within the industry, the mining sub-sector grew by 3.2%, especially for the extraction of iron ore. Since the manufacturing industry remained virtually flat over 2010, with a slight increase of 0.1%.

"The manufacturing industry is the core of an economy. With the turmoil in foreign markets, imports, consumption decisions. Activities that have more to do with the rest of the world had more impact. Some activities related to the internal market had less impact . From uniformly throughout the manufacturing industry fell, "said Ramos.

Also announced were the numbers of the external sector performance. In 2011, exports grew 4.5% and imports by 9.7% - mainly due, according to IBGE, the "framework for development of the real place between 2010 and 2011."
Investments and savings
In the same publication, IBGE announced that the investment rate in 2011 was 19.3% of GDP, less than in the previous year, when it reached 19.5%.

 
In the same period, the savings rate reached 17.2% against 17.5% in 2010.


In comparison with the third quarter of last year, adjusted sazonzal, GDP showed a 0.3% advance. By sector, agriculture recorded an increase (0.9%) and services (0.6%). The industry showed a decline of 0.5%. On Tuesday, the IBGE revised the GDP in the third quarter of 2011, from 0% to -0.1%.

According to the IBGE, in the fourth quarter of 2011, compared to the third, all components showed an increase in domestic demand: household consumption expenditure grew 1.1%, and public administration increased 0.4%. Gross fixed capital formation had lower high of 0.2%. For the external sector, imports grew 2.6% and exports 1.9%.

However, when compared to same period in 2010, the fourth quarter of 2011 showed higher growth of 1.4%. Among the economic activities, agriculture has advanced 8.4% and services 1.4%. Moreover, the industry has had dropped 0.4%. This decline, according to pointed to the IBGE, was pulled by the contraction of 3.1% in manufacturing.

The IBGE attributed to the high rate of agriculture, this type of comparison, the increase in productivity and performance of some products of the farming season that have relevance in the quarter and growth in productivity.
On the same basis of comparison, household consumption expenditure increased 2.1% and public administration, 1.3%. Gross fixed capital formation increased by 2.0%.
Exports rose 3.7% and imports 6.4%.



Source: G1 News

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