​Brazil’s economic struggles towards the end of the year

As we approach the end of 2021, a year that has been a major economic obstacle for seemingly
every country in the world; Brazil is looking to turn things around next year. However, this task
is becoming harder, since as of late Brazil’s economic growth has taken a dip, only adding to the
economic issues they will have to overcome in the next year, to compensate for the nearly two
financially draining years that have gone by induced by the COVID-19 pandemic.
To illustrate Brazil’s economic progression throughout the year, experts partition the year into
four quarters, to clearly demonstrate whether the economy has grown or declined. As we are
heading towards the end of the final quarter, Brazil’s economy has struggled to set themselves
up for a successful 2022. A governmental official stated that Brazil’s GDP has decreased by 0.4%
between October and November, generating reasonable concern amongst the Brazilian
population. This is coming after an unsuccessful third quarter, that showed an 8% decline in
agricultural production and no improvements in the industrial sector. Luckily, Brazil’s economy
in the third quarter is doing better than last year’s; comparing with last year, Brazil’s economy
in the third quarter grew by 4%.
Overall, Brazil is reaching the end of an economically challenging year, which has been evident
in the statistics mentioned below. As every day more people get vaccines and businesses are
given more opportunities to grow post pandemic, Brazil has a good chance of recovering from
the pandemic, as the world gets closer to returning to normality.
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Written by: Matias Gonçalves
Edited by: Anna Kissajikian