Economic Outlook forecasts a growth of 2.1% in Brazilian GDP in 2020

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Assintecal, through the Market Intelligence sector, discloses the Economic Outlook of August 2019, which has the objective of presenting pertinent information to the Brazilian and international economy through a set of macroeconomic indicators (GDP, Inflation, Employment, Foreign Trade, among others), highlighting the footwear and leather sectors. 

These, among other pieces of information, are available on the Intelligence Platform on the By Brasil, Components, Machinery and Chemicals website - an export incentive action by Assintecal and Agência Brasileira de Promoção de Exportações e Investimentos (Apex-Brasil) [Brazilian export and investment promotion agency], with partnership with Associação Brasileira das Indústrias de Máquinas e Equipamentos para os Setores do Couro, Calçados e Afins (Abrameq) [Brazilian association of machinery and equipment industries for leather, footwear, and related industries.

Year-to-date world exports fell 0.4% in April 2019 compared to the same period last year.

The global economy is losing vitality as the pace of activity will be slower than in the 2000-2018 period. The International Monetary Fund (IMF) estimates that the gross domestic product (GDP) of all economies will grow between 3.3% and 3.4% in the 2019-2020 biennium. This represents a -0.2 percentage point change from the 2018 result. 

According to the IMF, the three largest economies in the world in 2014-2018, in purchasing power parity, were China, the USA and India respectively. Their average GDP growth rates in that period were 6.8, 7.5% and 2.4%.

Considering the Brazilian macroeconomy, it can be seen that it keeps a growth trajectory low, which is currently in the range of 1% per year. With this, Índice de Atividade Econômica do Banco Central (IBC-Br) [Central bank of Brazil´s economic activity index] registered a slight growth in June 2019, where Banco Central do Brasil (BCB) [Central bank of Brazil] estimated in 0.30% the variation in the activity level of June 2019 compared to May 2019, considering the seasonally adjusted index.

GDP projections at the beginning of the year were estimated at 2.5% in 2019 and 2020. Currently, they are at 0.8% and 2.1%, respectively.

Unemployment rate (or vacancy) closed out June at 12% of the workforce, equivalent to a contingent of 12.8 million people. The underutilization rate was 24.8%. 

In addition to the topics discussed about the global scenario and Brazilian macroeconomics, the August/2019 edition also included the inclusion of special topics on the Mercosur and European Union Agreement and the Conjuncture of Argentina.

This and other information can be found in the Economic Panorama study, which is supported by By Brasil Components, Machinery and Chemicals.

Also check out the latest Intelligence Platform updates:

*Monthly Intelligence Bulletin July/2019; 
*Market Studies  - Mexico Target 2019.
* Economic Outlook August/2019;
* IAPC Report August/2019;
* IAPC Safety Report August/2019;
At the link:
• The platform is a benefit available to ASSINTECAL members and By Brasil Participants.

This is a study supported by By Brasil Components, Machinery and Chemicals.

About By Brasil Components, Machinery and Chemicals
Brazilian manufacturers in the component sector interested in expanding their business relations with the foreign market have the opportunity to participate, as well as 300 other companies, in the By Brasil Components and Chemicals project, carried out by Assintecal, Apex-Brasil, and Abrameq, which intends to promote good export performance and, consequently, of the sector.

The project has adequate solutions for each level of internationalization, keeping it within reach of the companies actions of commercial promotion, intelligence, qualification, among others. For more information, please contact us at

About Assintecal
For over 35 years, Associação Brasileira de Componentes para Couro, Calçados e Artefatos (Assintecal) [Brazilian association of leather, footwear and artifact components] has been working directly to expand its leather footwear sector. Its work is recognized for its strength and dialogue with all governmental spheres, for the consolidation of the international market and for its development in fashion research and content. The entity accounts for a sector that has 3 thousand companies. Headquartered in Novo Hamburgo (RS), it also has offices in São João Batista (SC), Nova Serrana (MG), Birigui (SP), Franca (SP) and Jaú (SP).

About Apex-Brasil
Agência Brasileira de Promoção de Exportações e Investimentos (Apex-Brasil) [Brazilian export and investment promotion agency] acts to promote Brazilian products and services abroad and to attract foreign investments to strategic sectors of the Brazilian economy. Agência  supports about 11,000 companies in 80 sectors of the Brazilian economy, which in turn export to over 200 markets.

Apex-Brasil also plays a key role in attracting foreign direct investment to Brazil, working to identify business opportunities, promoting strategic events and supporting foreign investors interested in allocating resources in Brazil. 

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