São Paulo – Brazil’s Gross Domestic Product (GDP) increased by 1.4% in the first quarter of this year compared to the last quarter of 2024, the Brazilian Institute of Geography and Statistics (IBGE) reported this Friday (30). As it relates to production, according to the IBGE, the biggest driver of GDP growth was agriculture, which grew by 12.2%. The services sector grew by 0.3%, and industry retracted by 0.1%.
Year-on-year in the first quarter, GDP was up 2.9%. In the past 12 months, Brazil’s economy grew by 3.5%.
The IBGE released audio of the researcher Rebeca Palis arguing that agriculture benefited from favorable climate and expectations of a record-breaking soy crop. “Additionally, it should be noted that services activities, which make up 70% of our economy, have contributed to this growth,” she said.
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Translated by Gabriel Pomerancblum
