Overcoming the crisis, Brazil has the 8th highest GDP growth in the world in 2022, according to a survey by Austin Rating with 32 countries, ahead of major powers

Growth of 1% in this first quarter of 2022 in Brazil's GDP brought it to 8th place in the world ranking

The survey carried out by the company Austin Rating placed Brazil in 8th place in the ranking with 32 world economies in terms of Gross Domestic Product (GDP). That's because the country had a growth of 1% in the first quarter of 2022, which brings a lot of hope for the year. Brazil shared this place with Mexico and Colombia.

The 1% growth is in relation to the three months prior to this first quarter of 2022, according to data released by the Brazilian Institute of Geography and Statistics (IBGE). This is already the third positive result in a row, with growth reaching 2021% in the first quarter of 1,1. To understand a little more about these results, continue reading.

Learn more about this growth in Brazil's GDP in 2022 with the video below

Large world economies such as the United Kingdom, Australia and the United States were behind Brazil in this ranking

Latin American countries did well in this ranking and are ahead of major powers such as the United States, Australia and the United Kingdom. In first place was Peru, with growth of 2% in its GDP, followed by the Philippines, which had 1,9% and Canada, with an increase of 1,6% in the period. As mentioned, Brazil ranks 8th, along with Mexico and Colombia.

However, countries like China, Turkey and Thailand still placed ahead of Brazil in the ranking with percentages between 1,2 and 1,3% of growth. The great powers like the United States, France and Japan showed a downturn in the economy at the beginning of 2022, possibly due to the war between Russia and Ukraine and the inflation that follows. The image below shows the record of the 12 main positions in the Austin Rating ranking.

Although it is a promising result, Brazil's GDP projections for the year are below those of the other countries that make up the ranking.

Despite this excellent performance at the beginning of the year, specialists at Austin Rating point out that this should not continue until the end of the year. The forecast is that the advance will be registered in only 0,7% of the GDP, which is well below the values ​​calculated for the other countries, a total of 3,2% in the year.

“In this photo, Brazil is doing well, but it should not sustain the same performance until the end of the year. We will have to wait for the next few quarters, when all countries have returned to a normal growth pattern, to see how Brazil behaves in this scenario of high interest rates in the USA, the continuation of the war in Ukraine and a slowdown in China”

Alex Agostini, chief economist at Austin Ratings, in an interview with Portal G1

This forecast is based on the fact that inflation is still active and interest rates are on the rise, in addition to the unfavorable international scenario. The trend is for the United States and China to emerge in the coming months and stand out on the world stage.

However, Banco Santander brings more optimistic forecasts, of 1,2% in 2022. For 2023, what is expected is a great threat of recession, with a 0,6% retraction in GDP. However, this may change as the international scenario presents changes, as this is what will dictate the results of inflation at the national level.

The document with the Austin Rating results can be accessed here.