Industrial production in Brazil rises 3.9% in 2021 -IBGE

RIO DE JANEIRO, BRAZIL – Brazilian industrial production grew 3.9% in 2021 compared to 2020, according to the Monthly Industrial Survey – Physical Production (PIM-PF) released Wednesday (02) by the Brazilian Institute of Geography and Statistics (IBGE).

However, the increase in 2021 does not offset the decline of 4.5% in 2020. It is the first year of expansion after two consecutive declines (1.1% in 2019 and 4.5% in 2020). The sector is 0.9% below the February 2020 level before the pandemic.

The performance reflects 2021 characterized by month-over-month production declines in eight of the 12 months of the year. The only exceptions were January, May, November, and December.

While there was a 13% gain in the first half of 2021 compared to the same period in 2020, there was a 3.4% loss in the second half of the year, as the period from July to December 2020 showed better performance and provided a higher basis for comparison.

In December, the indicator rose 2.9%, well above the median estimate of 36 financial institutions and consultants surveyed by Valor Data, which was 1.6% and did not include seasonal effects. Forecasts ranged from a 0.7% decline to a 3.3% increase.

IBGE also revised November data from -0.2% to stability from October.

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