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Economic Relations Brazil - Austria
Companies ♦
Published: January 23, 2019; 20:48 ♦ (Vindobona)
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Brazil experienced the worst recession in its history with GDP declining by 3.8 % (2015) and 3.5 % (2016) respectively. By 2017, the recession had bottomed out and GDP had risen slightly by 1 %. After sharp declines in the recession years, Austrian export figures to Brazil have now been recovering for two years. In 2017 Austria was able to increase its exports by 26.4 % year-on-year to EUR 725 million, and in the first three quarters of 2018 there was a further increase of 19.3 %.
Austrian export figures to Brazil have now recovered. / Picture: © Brazilian and Austrian crossed flags by Vindobona.org
Situation of the Brazilian economy
With expected growth of 1.2 %, 2018 remains well below original expectations.
For 2019 to 2022, analysts expect robust growth rates averaging 2.4 % per year.
Accordingly, the confidence index of Brazil's industrial entrepreneurs (ICEI) has risen to its highest level since 2012.
Notable Developments: New President Jair…
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