A report released by the Rio Grande do Sul government this Tuesday (26) points to a 1.7% growth in the economy of Rio Grande do Sul in 2023, compared to the previous year. The Gross Domestic Product (GDP) was almost R$640.3 billion, equivalent to 5.9% of the national amount. The per capita value reached R$55,454 – an increase of 1.4%, higher than that in Brazil in the same period.
The expansion of Rio Grande do Sul’s economy was attributed to the positive performances of agriculture (16.3%) and services (2.7%), the two activities with increases above the national average (15.1% and 2.4%, respectively) . On the other hand, the industry showed a retraction of 4%, against a Brazilian expansion of 1.6%, a determining aspect for the performance below that of Brazil.
Participating in the presentation of the numbers were the deputy secretary of the state department of Planning, Governance and Management (SPGG), Bruno Silveira, the undersecretary Carolina Scarparo, the director of the Department of Economics and Statistics (DEE), Pedro Zuanazzi, and the unit’s researcher , Martinho Lazzari. “This is a work of national reference and allows the State government to work with numbers consistent with reality, which is fundamental in planning actions”, highlighted Silveira.
Performance by segment
In agriculture, the lack of rain in the first months of the year and the excess of rain at the end limited the recovery of the State’s agricultural production after the great drought of 2022. Even so, the sector registered important growth in the year, given the relative lower intensity of the 2023 drought.
In industry, the main negative highlight was the manufacturing industry, which recorded a decline of 5.4% in the year. The national reduction in investment spending had a greater impact on industry in Rio Grande do Sul, which has an important machinery and equipment sector.
Furthermore, more specific issues, such as stoppages for maintenance and investments in oil refining and cellulose manufacturing plants, in addition to collective vacations at an important vehicle manufacturing company, negatively impacted industrial activity in Rio Grande do Sul throughout 2023.
Services grew, driven by information services, financial intermediation and insurance activities and other services.
Previous quarters
In comparison with the immediately previous quarter, in the seasonally adjusted series, Rio Grande do Sul’s GDP showed zero variation (0%), performance equal to the national one. On this basis of comparison, agriculture fell 12.3%, while industry (0.1%) and services (0.6%) expanded.
Compared to the same quarter in 2022, the economy of Rio Grande do Sul had a contraction of 0.7%, a lower performance than the national one (growth of 2.1%). Agriculture fell 23.1%, due to the failure of the wheat harvest. Industry, once again influenced by transformation, fell by 1%. On the other hand, services grew 2.1%.
The GDP level is 0.6% above the pre-pandemic period (4th quarter of 2019), but 5.3% below its peak, recorded in the 2nd quarter of 2021. This and other information can be checked through link on the website Estado.rs.gov.br.
(Marcello Campos)
