Brazilian property sector to benefit from strong economic growth?
Date added: 4th March, 2011 at 10:18
(view all articles from March, 2011)
Categories: Economy, Property News
The Brazilian property sector may be positively affected by the growth of the economy last year.
According to the Brazilian Institute of Geography and Statistics, gross domestic product (GDP) expanded by 7.5 per cent in 2010, the highest figure seen since 1986.
Per capita, GDP grew by 6.5 per cent to reach R$19,016 (£7,086) from R$16,634 in 2009, while national GDP rose to R$3.675 trillion, according to Quarterly National Accounts.
Between the third and fourth quarter of 2010, GDP expanded by 0.7 per cent, driven by the services industry.
The statistics also revealed that economy growth occurred at a higher rate in the last decade than in the 1990s, with an annual average increase of 2.4 per cent since 2000 compared with 1.1 per cent in the preceding ten years.
Brazil's finance minister Guido Mantega claimed these figures show that the country has overtaken Britain and France to become one of the biggest in the world.
"Looking at the international scenario, Brazil was ranked third in the world in relation to [the rate of] economic growth and it is the fifth [largest] economy when we consider the G20 countries," he told the Financial Times.
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