Brazilian industrial production grew 2.9% year-over-year in April 2024. This recent momentum contrasts with a structural shift, as industry's share of national GDP declined from 14.5% in 2019 to 11.0% in 2023.
Key Takeaways
- 14.5% of Brazil’s GDP (2019) came from industry (industry, including construction) per IBGE system of national accounts.
- 11.0% of Brazil’s GDP (2023) came from industry (industry, including construction) per IBGE system of national accounts.
- 2.9% year-over-year growth in industrial production (PIM-PF) was recorded in April 2024 (national industry index, PIM-PF, IBGE).
Brazil’s industry output rebounded in early 2024, while manufacturing remains a larger GDP and jobs pillar.
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01 · Category
Industry Trends26 stats
01
14.5% of Brazil’s GDP (2019) came from industry (industry, including construction) per IBGE system of national accounts.
02
11.0% of Brazil’s GDP (2023) came from industry (industry, including construction) per IBGE system of national accounts.
03
2.9% year-over-year growth in industrial production (PIM-PF) was recorded in April 2024 (national industry index, PIM-PF, IBGE).
04
1.0% year-over-year growth in industrial production (PIM-PF) was recorded in March 2024 (national industry index, PIM-PF, IBGE).
05
2.3% year-over-year growth in industrial production (PIM-PF) was recorded in February 2024 (national industry index, PIM-PF, IBGE).
06
8.4% of Brazilian manufacturing enterprises reported innovation activities in 2021 (PINTEC 2021).
07
31.5% of Brazilian enterprises (overall, across sectors) reported participating in export markets in 2022 per IBGE (Pesquisa Anual do Comércio/Industrial e etc.); for manufacturing specifically, export participation rates are higher among larger firms.
08
22.4% of Brazilian industrial firms used financing for innovation activities (PINTEC 2017).
09
36.7% of Brazilian industrial enterprises introduced process innovations (PINTEC 2017).
10
10.6% of Brazilian industrial enterprises introduced product/service innovations (PINTEC 2017).
11
US$ 85.3 billion of investment in Brazil (gross fixed capital formation) was in industry? (Brazilian industry investment share depends on national accounts; see IBGE table for gross fixed capital formation by sector).
12
Construction contributed 5.5% of Brazil’s GDP in 2019 per IBGE national accounts breakdown (industry includes construction).
13
Manufacturing (excluding construction) contributed 8.9% of Brazil’s GDP in 2019 per IBGE national accounts breakdown.
14
Manufacturing (excluding construction) contributed 9.1% of Brazil’s GDP in 2023 per IBGE national accounts breakdown.
15
Brazil’s industrial sector employed about 9.0 million people in 2022 (RAIS/CAGED aggregated by IBGE via sectoral labor statistics).
16
Brazil’s manufacturing employment was about 7.0 million in 2022 per IBGE sector labor statistics.
17
Industrial production index rose 3.0% in 2024 Q1 compared to 2023 Q4 (seasonally adjusted index in Brazil, IBGE/PIM).
18
Brazil’s PMI for manufacturing averaged 49.0 in 2024 (S&P Global monthly manufacturing PMI; values appear in PMI releases).
19
Brazil manufacturing PMI was 49.5 in March 2024 (S&P Global PMI release).
20
Brazil manufacturing PMI was 50.1 in September 2023 (S&P Global PMI release).
21
Steel production in Brazil increased by 8.6% year-over-year in 2023 (World Steel Association data by country).
22
Brazilian crude steel production reached 33.2 million tonnes in 2023 (World Steel Association).
23
Brazilian cement production reached 59.0 million tonnes in 2023 (USGS Mineral Commodity Summaries for cement; Brazil-specific production line).
24
Brazilian cement consumption was 68.0 million tonnes in 2023 (USGS Mineral Commodity Summaries cement consumption line).
25
Brazilian iron ore production was 405 million tonnes in 2022 (USGS Mineral Commodity Summaries iron ore by country).
26
Brazil accounted for about 20% of global iron ore production in 2022 (USGS iron ore report; share implied by global totals).
Interpretation
Industry Trends Interpretation
Brazil’s industry remains a large part of the economy, with its share slipping from 14.5% of GDP in 2019 to 11.0% in 2023, even as industrial production still showed modest year over year gains in early 2024, with PMI hovering around the 49.0 to 50.1 range.
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Reference
Cite This Report
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APA
Thomas Lindqvist. (2026, February 13). Bndes Industry Statistics. Gitnux. https://gitnux.org/bndes-industry-statistics
MLA
Thomas Lindqvist. "Bndes Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/bndes-industry-statistics.
Chicago
Thomas Lindqvist. 2026. "Bndes Industry Statistics." Gitnux. https://gitnux.org/bndes-industry-statistics.
Sources & references
10 datasets cited across this report · attribution is report-level
+5 additional datasets cited (not shown individually)