Brazil's Gross Domestic Product down 3.8% in 2015
The Gross Domestic Product (GDP) shrank 3.8% in 2015, a record decline for the time series that began in 1996.
The final figures for Brazil's economy at the close of 2015 were released today (March 3) by the Brazilian Institute of Geography and Statistics (IBGE), along with the GDP results for the last quarter, a 1.4% drop compared to the previous quarter (seasonally adjusted). The goods and services produced in the country over the year totaled $1.5 trillion in current values.
The downturn in 2015 reflects contractions in virtually all economic sectors, notably in Gross Fixed Capital Formation (investment in capital goods), which was down 14.1%
There were also significant declines in Industry (6.2%) and Services (2.7%). The only sector that posted positive numbers was Agriculture, with 1.8% growth.
Translated by Mayra Borges
Fonte: Gross Domestic Product down 3.8% in 2015
