Brazil achieved a 3.4 percent economic growth in 2024, with household spending, industry, and services driving this increase despite a 3.2 percent contraction in agriculture. Exports rose, while imports saw a notable increase. President Lula lauded the growth, linking it to job creation. The GDP per capita also climbed, and future growth expectations remain positive.
Brazil experienced an economic growth of 3.4 percent in 2024, driven by robust household spending, which increased by 4.8 percent year-on-year. The industrial and services sectors contributed significant growth, expanding by 3.3 percent and 3.7 percent, respectively. However, the agriculture sector faced challenges, contracting by 3.2 percent due to unfavorable harvest conditions.
Moreover, while exports increased by 2.9 percent, imports surged by 14.7 percent, attributed to heightened demand for chemicals, machinery, and motor vehicles. President Luiz Inacio Lula da Silva celebrated the economic achievements, referring to 2025 as “the year of the harvest,” emphasizing the positive impact of GDP growth on employment and the financial well-being of Brazilians.
In addition, Minister of Planning and Budget Simone Tebet reported that Brazil’s GDP per capita reached 55,247.45 reais (9,558.4 U.S. dollars), reflecting a 3.0 percent rise. She underscored the importance of addressing inflation to reduce food prices. Financial analysts project a GDP growth of 2.01 percent for Brazil in 2025, while the government aims for a slightly higher rate of 2.3 percent.
In summary, Brazil’s economic growth of 3.4 percent in 2024 was significantly influenced by household spending, with notable contributions from industry and services, despite challenges in agriculture. The positive trends extend into anticipated growth for 2025, if inflationary pressures on food prices are effectively managed. This optimistic outlook reflects President Lula’s commitment to enhancing the living standards of Brazilians through economic stability and growth.
Original Source: ana.ir
