Temporary factors boost output: GDP growth clocked 5.4% year on year in Q1 2025, matching the prior quarter’s reading and...
Economic Growth in Brazil
Brazil's GDP growth between 2013 and 2022 was characterized by economic turbulence and modest recoveries. The country entered a severe recession in 2015-2016, driven by political instability and declining commodity prices. Subsequent years saw gradual recovery, although growth remained sluggish. The COVID-19 pandemic brought another downturn, but the economy showed resilience in 2021-2022, partly due to commodity exports and strong fiscal stimulus.
The Brazilian economy recorded an average growth rate of 0.6% in the decade to 2022, below the 1.3% average for Latin America. In 2022, Brazil's real GDP growth was 2.9%. For more GDP information, visit our dedicated page.
Brazil GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Brazil from 2014 to 2023.
Source: Macrobond.
Brazil GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -3.3 | 4.8 | 3.0 | 3.2 | 3.4 |
| GDP (USD bn) | 1,477 | 1,670 | 1,952 | 2,191 | 2,180 |
| GDP (BRL bn) | 7,610 | 9,012 | 10,080 | 10,943 | 11,745 |
| Economic Growth (Nominal GDP, ann. var. %) | 3.0 | 18.4 | 11.8 | 8.6 | 7.3 |
Central Bank’s tightening cycle will cool economy further: Our Consensus is for GDP growth to be accelerating in sequential terms in Q1 2025; our panelists then see it easing slightly in Q2 2025 before stabilizing through Q4 2025. Overall in 2025, the economy is seen growing at the slowest pace since the 2020 pandemic-induced downturn. Higher inflation and interest rates, coupled with softer wage growth, will hold back growth of private consumption and fixed investment. Extreme weather events are a downside risk to the outlook, while the government’s fiscal policy and its impact on inflation, investor sentiment and the currency is a key factor to monitor.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Brazilian GDP projections for the next ten years from a panel of 52 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Brazilian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Brazilian GDP projections.
Want to get access to the full dataset of Brazilian GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
China: GDP growth beats expectations in Q1 -
United Kingdom: Economic activity records quickest growth since March 2024 in February GDP reading: GDP rose 0.5% month-on-month in seasonally adjusted terms in February (January: 0.0% mom). The result marked the best... -
Guatemala: Final quarter of 2024 sees best GDP growth reading since Q2 2022 Q4 2024 records the highest GDP growth since Q2 2022: GDP grew 4.5% year on year in Q4 2024 (Q3:... -
Ukraine: Economy ends 2024 with a contraction GDP drops for the first time in almost two years in Q4: GDP contracted 0.1% annually in Q4, according to... -
Canada: Economy expands at the sharpest pace in two years in January GDP reading: GDP rose 0.4% month on month in seasonally adjusted terms in January (December: +0.3% mom s.a.), outpacing market... -
Luxembourg: GDP growth hits three-year high in Q4 GDP rebounds in Q4: GDP bounced back in Q4, expanding 1.4% on a seasonally adjusted quarter-on-quarter basis (Q3: -0.9% qoq... -
Uruguay: Economic growth slows in Q4 The economy loses momentum: GDP growth lost steam in Q4, falling to 3.5% year on year from Q3’s 4.4% and...