US EditionBrazil's Growth Profile Shifts Dramatically from External to Domestic Demand
- Brazil's economy grew by 3.4% in 2024, propelled by domestic demand, as reported by the Brazilian Institute of Geography and Statistics .
- Household consumption rose 4.8%, while imports surged by 14.7%, highlighting robust domestic spending, according to the IBGE report on Brazil's economic performance.
- Domestic demand contributed 5.2 percentage points to growth in 2024, while external demand subtracted 1.8 points, according to IBGE's National Accounts Coordinator, Rebeca Palis.
- Brazilian President Luiz Inacio Lula da Silva welcomed the economic growth, stating that a growing GDP results in 'more jobs and more money in the hands of Brazilians.
11 Articles
11 Articles
Brazil's Growth Profile Shifts Dramatically from External to Domestic Demand
The Brazilian Institute of Geography and Statistics (IBGE) reports Brazil’s economy underwent a complete transformation in growth drivers between 2023 and 2024. GDP expanded by 3.4% in 2024, slightly outpacing 2023’s 3.2% growth. Brazil’s economic momentum placed it fourth among G20 nations, trailing only India, Indonesia, and China. The total economic output reached R$11.7 trillion […]
Brazil’s economy, the largest in Latin America, grew by 3.4% in 2024 compared to the previous year, according to the Brazilian Institute of Geography and Statistics (IBGE). This growth was driven mainly by the high consumption of Brazilian families, which experienced an increase of 4.8% compared to 2023, which resulted in a strong contribution to the national Gross Domestic Product (GDP). Brazil’s president, Luiz Inácio Lula da Silva, welcomed t…
Xi Jinping’s Visit Highlights Brazil’s Cautious Balancing Act - The New Global Order
Xi Jinping and Lula during the Chinese President’s visit to Brazil in November 2024. Ricardo Stuckert/PR. This past November, China’s President, Xi Jinping, visited Brazil and held promising, high-profile talks with his Brazilian counterpart, Luis Inácio Lula da Silva. While Brazil hosted the G-20 Summit, Xi’s state visit sparked commentary and mobilized attention on what ended up being a consequential meeting between Brazil and its largest trad…
The Ibovespa closed Friday (7) with a considerable increase of 1.36%, at 125,034.63 points, a gain of 1,677.08 points. Agents reflected on the GDP (Gross Domestic Product) of 2024, which advanced 3.4%, stronger growth than that observed in 2023, when the country's activity grew 3.2%. The 2024 rate was also the highest […]
President Luiz Inácio Lula da Silva stated that, in 2025, Brazil will see growth in its Gross Domestic Product (GDP), in addition to an increase in the minimum wage and in the distribution of land. He emphasized that the current administration has been committed to controlling inflation, since rising prices have a negative impact on workers. At a delivery ceremony and announcement for agrarian reform in Minas Gerais this Friday (7), Lula highlig…
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