The Brazilian economy suffered the biggest collapse in 30 years in 2020

The coronavirus pandemic was the main factor behind the fall in Brazilian GDP in 2020 and It halted sustained growth between 2017 and 2019 after falling 3.5% in 2015.

The drop was almost half of the 9.5% the International Monetary Fund (IMF) had forecast at the start of the pandemic.

The IBGE also unveiled the GDP for the fourth quarter of 2020, when it registered a growth of 3.2% compared to the previous quarter, which had marked an increase of 7.7%, which marks an economic cooling at the time. same where In this first quarter of 2021, States and municipalities are closing their economies due to a second wave of deaths and infections higher than the first.

Compared to the last quarter of 2019, the period between October and December fell 1.1%.

This is the largest drop with the current methodology implemented since 1996 by the IBGE, although it has been deeper since 1990, when a 4.3% drop was recorded.

The GDP per capita was 35,172 reais ($ 6,200), a record decline of 4.8 percent.

The Services sector was the big responsible, since It represents nearly 60% of activity, down 4.5%.

Industry was reduced by 3.5% and the only branch that managed to close 2020 in positive was agricultural activity, which grew by 2% supported mainly by soybean, meat and coffee export records.

Household consumption has fallen to a record 5.5%, while the investments also collapsed by 0.8%, The state spends 4.7% and imports 10%.

Exports also fell, by 1.8 percent, and they didn’t do it anymore because of agribusiness.