Agricultural GDP registers an increase of 0,4% in the second quarter of the year

The agricultural Gross Domestic Product (GDP) showed a positive change of 0,4% in the second quarter of 2020, compared to the first quarter of the year. According to data released this Tuesday (1st) by the Brazilian Institute of Geography and Statistics (IBGE), agriculture was the only sector among the main sectors of the economy that showed growth in the second quarter.

Compared to the second quarter of 2019, agriculture grew 1,2%. According to IBGE, the index can be explained, mainly, by the performance of some agricultural products that have a relevant harvest in the second quarter and by productivity. The positive contributions came from soybean crops (5,9%), rice (7,3%) and coffee (18,2%). Beans (-4%), corn (-0,8%) and cassava (-0,3%) had negative contributions.

In the first half of 2020, agriculture had a positive performance of 1,6% compared to the same period in 2019.

GPD

According to IBGE, Brazil's GDP fell 9,7% in the second quarter of 2020 (compared to the first quarter of 2020), in the seasonally adjusted series. Compared to the same period in 2019, GDP fell 11,4%.  

Among the segments, the biggest drop in the second quarter was in Industry (-12,3%), followed by Services (-9,7%).

In current values, GDP totaled R$1,653 trillion in the second quarter, with agriculture totaling R$125,417 billion, industry R$287,544 billion and services R$1,064 trillion.