Brazil’s gross domestic product (GDP) in the first quarter of the year grew 0.4 percent, quarter-on-quarter, according to data released this week by the nation’s statistics agency, IBGE.
Brazil’s GDP in Q1 reached BRL 1.6 trillion. When compared to the same quarter of the year prior, the nation’s GDP increased 1.2 percent, year-on-year, IBGE said.
IBGE said the country’s agriculture GDP dropped 2.6 percent in Q1, year-on-year, while the industry’s GDP improved 1.6 percent, year-on-year, in the same period. The service’s industry GDP in Q1 rose 1.5 percent, year-on-year.