Brazil GDP Grows 0.5% to R$3.4 Trillion in Second Quarter of 2026

Brazil GDP grew 0.5% in the second quarter of 2026 compared with the previous three months, reaching R$3.4 trillion. Over the first half of the year, the economy expanded 1.9% from the same period in 2025.

Agriculture leads Brazil GDP growth

Agriculture was the standout sector, expanding 2.8% during the quarter. Coffee and soybean harvests helped drive the result, with production increases of 15.1% and 5.3%, respectively. Livestock production also contributed.

Meanwhile, services grew 0.2%, and industry edged up just 0.1% compared with the first quarter. These figures show a much slower pace outside agriculture.

Year-on-year growth reaches 2%

Compared with the second quarter of 2025, Brazil GDP increased 2%. Growth over the four quarters through June stood at 1.9%.

The quarter’s total included R$2.9 trillion in value added, plus R$487.9 billion in net taxes on products. These components make up the reported GDP figure.

Household spending signals caution

However, household consumption fell 0.4% during the quarter. Economists see this decline as a warning sign despite the positive overall result.

The drop weakens the view that fiscal stimulus can keep driving faster growth. It also suggests that restrictive monetary policy continues to put pressure on the economy.

Across the first half of 2026, agriculture expanded 3.6%. Services grew 1.8%, while industry rose 1.6%. Together, the figures show an economy still growing, but with uneven momentum across sectors.