Paraná Leads Brazil in Economic Growth in 2023
In 2023, Paraná achieved the highest proportional economic growth in Brazil, with a 7.8% increase compared to 2022, significantly outpacing the national average of 2.45%.
This data is from the Regional Economic Activity Index (IBCR), released by the Central Bank on Thursday, February 22, and gathered by the Paranaense Institute of Economic and Social Development (Ipardes).
Paraná’s economic activities surged more than three times the national rate, also surpassing Goiás, which had the second-highest growth at 6.1%.
In addition, Pará ranked third with a 5.7% increase. Governor Ratinho Junior emphasized record employment, GDP growth, and port activity.
With ongoing investments in urban and future infrastructure, Paraná is set to play an even more prominent role nationally.
Economic Expansion Across Sectors in Paraná
The state’s economic lead was driven by growth across all productive sectors.
Furthermore, Brazil’s cereal, legume, and oilseed production surged 36%, reaching 45.4 million tons, per IBGE data.
Favorable weather conditions contributed to the agribusiness sector’s success, with exports, primarily agricultural products, growing by 13.7% in 2023.
In addition, Paraná’s tertiary sector surged 11.2% with industrial and retail sectors growing modestly (1.5% and 1.1%) per IBGE data.
Ipardes President Jorge Callado credits Paraná’s economic boom to deregulation and sustained business environment enhancements by the state government.
Paraná’s top position in the IBCR underscores its strong performance in agriculture, industry, and services, a result of public policies attracting productive sector investments.
However, these efforts are supported by improvements in infrastructure, sustainability, technology, and innovation relative to other federal units.
Here’s the complete annual IBCR variation by state from 2022 to 2023:
- Paraná: 7.8%
- Goiás: 6.1%
- Pará: 5.7%
- Rio de Janeiro: 4.6%
- Espírito Santo: 4.4%
- Minas Gerais: 4.4%
- Bahia: 3.3%
- Amazonas: 2.7%
- Santa Catarina: 2.6%
- Pernambuco: 2.2%
- Rio Grande do Sul: 2.1%
- São Paulo: 1.4%
- Ceará: 1.2%
- Brazil: 2.45%
Source: Central Bank of Brazil
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief