Economy

Brazil GDP shrank 3.6% in 2016

The sum of all goods and services produced in the country last year

Vinicius Lisboa reports from Agência Brasil

Published on 07/03/2017 - 10:15

Rio de Janeiro

economia ilustração 2
Foto: Marcello Casal Jr/Agência Brasil/Arquivo — © Marcello Casal Jr/Agência Brasil/Arquivo

Brazil's Gross Domestic Product (GDP) shrank 3.6% in 2016.

In 2015, the Brazilian economy had declined 3.8%. According to data released by the Brazilian Institute of Geography and Statistics (IBGE) today (March 7), Brazil's GDP (the sum of all goods and services produced in the country) was just over $2 trillion.

The GDP reported for the last quarter of 2016 was 0.9% smaller than in the previous quarter and 2.5% down from that of the same period of 2015.

The largest decline in 2016 according to the IBGE was seen in the farming sector (6.6%), whereas industry declined 3.8%, and services, 2.7%.

Translated by Mayra Borges

Fonte: Brazil GDP shrank 3.6% in 2016