Brazil: Economy grows by 5.4 percent in 2007

13 March 2008

Brasilia, Brazil, 13 March – The Brazilian economy grew 5.4 percent in 2007 to 2.6 trillion reais, which was the highest result of the last three year, Brazil’s Geographical and Statistics Institute (IBGE) said Wednesday in Brasilia.

According to the IBGE, per capita GDP rose 4.0 percent in real terms, against 2006, totalling 13,515 reais.

The IBGE said that the factors that most contributed to growth of the Brazilian economy, which in 2007 saw its biggest annual growth since 1996 and consumer spending, which increased for the fourth consecutive year, with a rise of 6.5 percent.

In 2007 the farming and agricultural sector grew by 5.3 percent, industry by 4.9 percent and services by 4.7 percent.

Brazil’s GDP saw growth of 5.7 percent in 2004, 3.7 percent in 2005 and 3.8 percent in 2006. (macauhub)