Home Agribusiness Agricultural GDP Grew 2.5 Percent in the 3Q Compared to the Same...

Agricultural GDP Grew 2.5 Percent in the 3Q Compared to the Same Period in 2017

39
0
SHARE

Agricultural production grew 0.7 percent in the third quarter of this year, according to GDP (Gross Domestic Product) data released by Brazilian Institute of Geography and Statistics — IBGE —, which increased 0.8 percent and services 0.5 percent. We generated R $61.9 billion for the agriculture sector, 331.6 billion, the industry, and R $1.1 trillion, the Services.

Comparing the quarter compared to the same of the previous year, show growth of 1.3 percent for GDP, with Agriculture, 2.5 percent, Industry, 0.8 percent, and Services 1.2 percent. This was the best result for agribusiness this year, observes Jose Garcia Gasques, General Coordinator of Studies and Analysis of the Secretariat of Agricultural Policy (SPA) of the Ministry of Agriculture, Livestock, and Supply.

According to IBGE, the increase is mainly due to crops that have a relevant crop in the third quarter and productivity reflected in the relationship between production and planted area. The performance of production and productivity of important crops such as coffee and cotton has outpaced the poor performance of crop production such as sugarcane, cassava, orange, and corn, said Gasques. The IBGE highlighted that they contributed positively to the results of the quarter, gains in livestock and forestry production.

The accumulated result from January to September indicates GDP growth of 1.1 percent, Agriculture (-0.3 percent), Industry (0.9 percent) and Services (1.4 percent). A negative rate of Agriculture is due to the worse performance this year, of crops with great importance in the formation of income of the sector, such as sugar cane, rice, beans, orange, cassava, corn, and grapes, said the coordinator.

In the period 2000 to 2017, the IBGE updated the sectoral distribution of the activities that compose the GDP, with 5.4 percent, Agricultural, Industrial, with 21.3 percent and Services, 73, 3 percent.