In April, Brazils Gross Domestic Product (GDP) dipped by 0.1% compared to March, according to the FGV/Ibre GDP Monitor.Despite this slight monthly decline, the annual growth comparison with April 2023 was an impressive 5.1%.Over the past 12 months, the cumulative growth rate stood at a positive 2.7%.Juliana Trece, the coordinator of the GDP Monitor, highlighted that while the economy remained stable in April, this stability signaled a slowdown in growth after a robust start to the year.The 5.1% annual growth across investments, industry, consumption, exports, and imports shows strong economic performance compared to 2023.In the rolling quarter ending in April 2024, GDP increased by 2.8% compared to the previous years equivalent period.Household consumption grew by 5.5% during this quarter, with significant gains in services and non-durable goods.Brazils GDP Drops Slightly in April, But Annual Growth Remains Strong.
(Photo Internet reproduction)Investment, measured by Gross Fixed Capital Formation (FBCF), rose by 4.8% in the same quarter.Contributions came from machinery and equipment, which climbed 5.5%, construction, which increased by 3.5%, and other assets, which surged by 7.2%.Brazils GDP Drops Slightly in April, But Annual Growth Remains StrongExports of goods and services also showed strong performance, growing by 8.8% in the quarter ending in April compared to the same period the previous year.Imports of goods and services saw an even more substantial rise, increasing by 11.6%, driven by services and intermediate goods.From January to April, the GDP reached R$ 3.63 trillion in current values.
The investment rate in the economy was 17.6% in April.The GDP Monitor uses the same data and methods as the Brazilian Institute of Geography and Statistics (IBGE).This report is crucial as it provides early indicators of the countrys economic health, guiding policy decisions and market expectations.