Brazil’s gross domestic product up in first quarter

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Brazil’s gross domestic product (GDP) increased 1 percent in the first quarter of 2017 compared to the fourth quarter of 2016, reaching 1.594 trillion reals (490.5 billion U.S. dollars), the country’s statistics agency IBGE has said.

Compared with the same period of 2016, however, the GDP in the quarter went down 0.4 percent.

With the growth registered in the first quarter, Brazil has officially started to leave behind a two-year-long recession. The positive figures can be largely attributed to a good performance of the agricultural sector, whose GDP was up 13.4 percent quarter-on-quarter and 15.2 percent compared to the same period last year.

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