Economy

Brazil’s GDP up 0.2% in second quarter

The country’s total wealth amounted to $404.9 billion

Nielmar Oliveira

Published on 31/08/2018 - 12:37

Rio de Janeiro

Brazil’s gross domestic product (GDP) closed out the second quarter of 2018 up 0.2 percent from the previous quarter. This is the sixth positive outcome after eight negative variations in a row in the same comparison. In absolute terms, the GDP reached $404.9 billion.

The figures, released today by the Brazilian Institute of Geography and Statistics (IBGE), reveal that the slight increase was chiefly driven by services, which rose 0.3 percent, whereas industry faced a 0.6 percent, and agriculture held virtually steady.

Compared to the second quarter of 2017, the growth stands at one percent—the fifth positive outcome in a row for this comparison. Industry and services expanded 1.2 percent, and agriculture dropped 0.4 percent.

In the last four quarters seen together, the GDP increased 1.4 percent against the four quarters prior.