China News Agency, Sao Paulo, March 3 (Reporter Mo Chengxiong) Brazil's National Geographic and Statistics Agency (IBGE) released data on the 3rd local time, showing that Brazil's GDP fell 4.1% in 2020, which is the continuous GDP of Brazil The first decline after three years of growth was the country’s largest annual decline since the country’s GDP fell by 4.3% in 1990.
Data show that in the fourth quarter of 2020, Brazil's GDP increased by 3.2% month-on-month and decreased by 1.1% year-on-year.
On December 16, local time, in Sao Paulo, Brazil, a female shop assistant wears a mask to sell Christmas gifts at a local chocolate shop.
Photo by China News Agency reporter Mo Chengxiong
In 2020, Brazil’s total GDP is 7.4 trillion reais (approximately US$1.32 trillion at the current exchange rate), and its per capita GDP is 35,172 reais (approximately US$6,270), a decrease of 4.8% from 2019, the lowest in 25 years Level.
In 2020, among Brazil's three major industries, the service industry, which accounts for more than 60% of Brazil's GDP, fell 4.5%, and the industry fell 3.5%.
However, agriculture grew by 2%.
On the demand side, in 2020, Brazilian household consumption will fall by 5.5% and investment will fall by 0.8%.
In terms of foreign trade, Brazil’s exports will fall by 1.8% in 2020, and imports will fall by 10%.
According to the revised data of Brazil's National Geographic and Statistics Bureau, Brazil's GDP increased by 1.3%, 1.8% and 1.4% in 2017, 2018 and 2019, respectively.
In 2015 and 2016, Brazil's GDP contracted for two consecutive years, down 3.5% and 3.3% respectively.
Industry insiders said that due to the impact of the new crown pneumonia epidemic, Brazil's economy will decline in 2020, in line with market expectations.
At present, the Brazilian economy has not yet recovered to the level before the epidemic.
According to the latest expectations of the Brazilian financial market, the country's economy is expected to grow by 3.29% in 2021.
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