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Brazilian economy grows 2.3 pct in 2013

English.news.cn   2014-02-28 12:24:18

RIO DE JANEIRO, Feb. 27 (Xinhua) -- The Brazilian economy grew 2.3 percent in 2013, more than double the 1 percent growth rate of 2012, according to government figures released Thursday.

The state-run Brazilian Institute of Geography and Statistics (IBGE) said the agricultural sector saw the highest growth (7 percent), followed by services (2 percent) and industry (1.3 percent).

In the agricultural sector, soy output increased 24.3 percent, sugar cane, 10 percent, maize, 13 percent and wheat, 30.4 percent.

The industrial output increased due to growth in the areas of electricity and gas, water and urban sanitation (2.9 percent), while the services sector's growth was powered by improvement in information (5.3 percent), transportation, storage and mail (2.9 percent), and trade (2.5 percent).

Household spending, one of the engines of the economy, has been growing for 10 consecutive years and reached 2.3 percent in 2013, IBGE said.

In 2013, Brazil generated revenues of 4.84 trillion Brazilian reals (2.06 trillion U.S. dollars), placing per capita gross domestic product at 24,065 reals (10,225 dollars).

In 2012, the GDP growth was driven by the services sector, the only sector that ended the year with a surplus.

Brazil's economy grew 7.5 percent in 2010, but reflected the global slowdown in 2011, with just 2.7 percent.

The government has lowered its 2014 growth forecast from 4 percent to 2.5 percent.

Editor: Bi Mingxin
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