In the first quarter of 2026, the GDP grew 1.1% compared to the fourth quarter of 2025, in the seasonally adjusted series. From a production perspective, the growth in Agriculture (2.0%) stands out. There was also an increase in Industry (1.0%) and Services (0.5%). In current values, the GDP totaled R$ 3.3 trillion, with R$ 2.8 trillion referring to Value Added (VA) at basic prices and R$ 461.2 billion to Taxes on Products net of subsidies.

In the same period, the investment rate was 16.5% of GDP, remaining below that observed in the same period of the previous year (17.6%). The savings rate was 15.5% in the quarter (compared to 15.8% in the same period of 2025). Compared to the first quarter of 2025, the GDP advanced 1.8%, with growth in Agriculture (0.7%), Industry (1.6%) and Services (2.1%).

Main GDP results at market prices from the 1st Quarter of 2025 to the 1st Quarter of 2026

GDP grows 1.1% compared to Q4 2025

In the first quarter of 2026, the GDP grew 1.1% compared to the fourth quarter of 2025, in the seasonally adjusted series. From a production perspective, the growth in Agriculture (2.0%) stands out. There was also an increase in Industry (1.0%) and Services (0.5%).

Among industrial activities, Mining (3.6%) and Construction (2.9%) performed positively, while Manufacturing remained stable (0.1%). There was a decrease in the Electricity, gas, water, sewage, and waste management activities (-0.3%).

In the Services sector, there was growth in Information and communication (2.4%), Real estate activities (1.2%), Other service activities (0.8%), Trade (0.6%), and Public administration, defense, health and education, and social security (0.4%). A decrease was recorded in Transportation, storage and mailing (-0.7%) and in Financial, insurance and related services (-0.6%).

Household Consumption Expenditure (1.0%) and Gross Fixed Capital Formation (3.5%) expanded, as did Government Consumption Expenditure (0.4%).

Regarding the external sector, Exports of Goods and Services showed a negative change of 1.7%, while Imports of Goods and Services grew by 4.4% compared to the fourth quarter of 2025.

GDP grows 1.8% compared to Q1 2025

Compared to the same period in 2025, the GDP grew by 1.8% in the first quarter of 2026. The Value Added at basic prices increased by 1.8%, and Net Taxes on Products advanced by 1.9%.

All services sector activities showed growth: Information and communication (7.6%), Real estate activities (2.9%), Financial, insurance and related services (2.8%), Other services activities (2.4%), Trade (1.0%), Public administration, defense, health and education and social security (1.1%), and Transportation, storage and mailing (0.7%).

Among industrial activities, Mining and Quarrying industries (13.1%) stood out, driven by petroleum and natural gas extraction, as well as construction (1.3%), whose positive change is in line with the growth in employed personnel and hours worked in the activity. The activities of electricity and gas, water, sewage, waste management (-1.7%) and manufacturing (-0.9%) showed a decline. In the case of manufacturing, the decline was driven by printing and reproduction of recorded media (-10.2%) and manufacturing of machinery and equipment (-9.4%).

The agricultural sector's growth rate can be explained by increased crop production and productivity gains. According to the Systematic Survey of Agricultural Production (LSPA/IBGE), favorable weather conditions in most of the country's producing regions and the expansion of planted area boosted soybean cultivation, which, with a 4.8% increase in the annual production estimate, reached a record production in the time series. On the other hand, other agricultural products, whose harvests are also significant in the first quarter, registered a decrease in the annual estimate of both production and productivity, such as corn (-2.5%) and rice (-10.6%).

In the first quarter of 2026, Household Consumption Expenditure increased by 1.7%. Government Consumption Expenditure (2.8%) also showed an increase compared to the first quarter of 2025.

The Gross Fixed Capital Formation fell by 1.4% in the first quarter of 2026, marking its second decline after three quarters of growth. Performance was affected by the drop in capital goods production (-6.3%).

Exports of goods and services grew by 7.4%, while imports of goods and services advanced by 1.2% in the first quarter of 2026. Among goods exports, the sectors with the greatest positive contribution were: Petroleum and natural gas extraction, Food products, and Other transportation equipment, except motor vehicles. In the goods import category, the increase was mainly due to: Motor vehicles, trailers and bodies, Petroleum derivatives, biofuels and coke, and Pharmaceutical and chemical products.

GDP accumulates a 2.0% increase over four quarters, compared to the same period in 2025

The cumulative GDP in the four quarters ending in March 2026 grew by 2.0% compared to the four preceding quarters. This rate resulted from a 2.0% increase in Value Added at basic prices and a 1.4% increase in Net Taxes on Products. The Value Added result in this type of comparison stemmed from the following performances: Agriculture (7.5%), Industry (1.3%), and Services (1.8%).

Among industrial activities, Mininga nd Quarrying Industries (11.5%) showed growth while Construction (0.1%) remained stable. Electricity and gas, water, sewage, waste management activities (-1.2%) and Manufacturing (-0.9%) declined.

In Services, there were positive results in all activities: Information and communication (6.6%), Financial, insurance and related services (2.8%), Real estate activities (2.2%), Other service activities (2.1%), Transportation, storage and mailing (2.0%), Trade (0.8%), and Public administration, defense, health and education and social security (0.6%).

Household Consumption Expenditure and Government Consumption Expenditure and Gross Fixed Capital Formation grew by 1.2%, 2.3% and 0.4%, respectively. In the external sector, Exports of Goods and Services grew by 7.6%, while Imports of Goods and Services increased by 1.7%.