In the years 2020 and 2021 combined, Brazilian economic growth exceeded the median of the G7, G20 and Latin American countries. However, in the Brics group (pictured), it was only greater than South Africa’s GDP.| Photo: Marcelo Camargo/Agência Brasil
After falling 3.9% in 2020, the first year of the Covid-19 pandemic, Brazil’s gross domestic product (GDP) grew 4.6% in 2021, according to the IBGE. In the two years, there was a 0.6% advance, indicating that the level of activity already exceeds that of 2019 – what the Ministry of Economy described as a “recovery in ‘V ‘”, according to the expression often repeated by the holder of the portfolio, Paulo Guedes.
The Secretariat for Economic Policy (SPE) has compared Brazil’s performance over these two years to that of other countries. Most figures come from official results. For countries that have not yet published their 2021 GDP, the EPS has used the most recent IMF estimates.
GDP of Brazil and G7 countries
The first comparison made by the PES is with the G7 countries, a group that includes the main economies of the world and of which Brazil is not a part.
In this case, the Brazilian lead exceeded the median performance (-2.2%) and was only below the growth of the United States, whose economy grew by 2% year-to-date in 2020. and 2021.
CountryEvolution of GDP in 2020 and 2021United States 2.0Brazil0.6Canada-0.9France-1.6Germany -2.2United Kingdom -2.6Japan -2.9Italy-3.1
GDP of Brazil and G20 countries
Less favorable is the comparison with the countries of the G20, the group of which Brazil is part and which includes the largest economies in the world plus the European Union.
Brazil’s performance was above the G20 median (-0.9%), but far from the top of the ranking: the country recorded the ninth strongest growth of the group in 2020 and 2021 combined. these two years concerned Turkey (13.1%), China (10.5%) and South Korea (3.1%).
In its statement, the PES pointed out that Brazil’s result surpassed that of European countries and its peers in Latin America, Argentina and Mexico.
Compared to other countries in the BRICS bloc, the Brazilian economy has grown more than that of South Africa, but less than China, Russia and India.
CountryEvolution of GDP in 2020 and 2021 Turkey13.1China10.5South Korea3.1United States2.0Australia1.9Russia1.7Indonesia1.6India1.0Brazil0.6Canada-0.9Argentina-0.9European Union-1.2Saudi Arabia-1.3France-1 , 6South Africa -2.1Germany-2.2UK-2.6Japan-2.9Italy-3.1Mexico-3.8
GDP of Brazil and Latin American countries
In a list of 19 Latin American countries, Brazil recorded the sixth highest increase in GDP over the past two years and, as in previous rankings, exceeded the median of the group (-2.1%).
The economic growth of this group was led by Chile (4.5%), Guatemala (3.9%) and Paraguay (3.9%).
CountryGDP change in 2020 and 2021Chile4.5Guatemala3.9Paraguay3.9Nicaragua2.9Colombia 2.8Brazil0.6El Salvador0.4Costa Rica-0.3Argentina-0.9Peru-2.1Uruguay-2.9Mexico-3.8Bolivia-4.3Honduras-4,5Ecuador-5.2Belize- 6.7Panama-8.1Suriname-15.3Venezuela -33.5