Economy

IBGE confirms growth of 3.4% of the economy in 2024

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 06/11/2026, 14:24:24 UTC.

Briefings

Brazil's economy grew 3.4% in 2024, raising the GDP to R$11.7 trillion. The IBGE revised this figure after initial March 2025 data, with final results expected in March 2027. Industrial output rose 3.1%, services 3.8%, while agriculture declined 3.7%. Consumer spending grew 4.4%, with household consumption at 5.1% and government spending at 2%. The central bank and IMF forecast lower growth for 2026, with the central bank estimating 1.76% and the IMF 2.2%.

Key points

• The IBGE revised Brazil's 2024 GDP growth from an initial March 2025 estimate of 3.4% to a final figure of 3.4% in November 2026.
• Industrial production contributed 3.1% to the 2024 GDP growth, while the services sector contributed 3.8%.

Context

The IBGE is the Brazilian national institute for geography and statistics, responsible for revising economic data annually. This finding is significant as it confirms the country's economic expansion during a period of global uncertainty, with the final 2024 GDP figure now officially recognized.

Limitations

The evidence covers only the 2024 GDP growth and its components, with no data on 2025 or 2026 performance. The final 2024 GDP figure is expected to be revised in March 2027, and the 2026 forecast remains a projection rather than confirmed data.

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