This page explores how “Bndes Industry” connects to Brazil’s industrial performance, linking sector output with macroeconomic context. Using IBGE national accounts and PIM-PF industrial production data, it shows how industry’s share of GDP has evolved alongside month-to-month changes in output. The analysis highlights implications for firms and workers, including how regional and sectoral factors can shape demand, investment, and productivity.
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 share in GDP has been rising slightly, with industrial production growing in early 2024.
Related reading
01 · Category
Industry Trends30 stats
01
14.5% of Brazil’s GDP (2019) came from industry (industry, including construction) per IBGE system of national accounts.https://sidra.ibge.gov.br/tabela/5938
02
11.0% of Brazil’s GDP (2023) came from industry (industry, including construction) per IBGE system of national accounts.https://sidra.ibge.gov.br/tabela/5938
03
2.9% year-over-year growth in industrial production (PIM-PF) was recorded in April 2024 (national industry index, PIM-PF, IBGE).https://www.ibge.gov.br/estatisticas/economicas/industria/9032-indice-de-producao-industrial.html
04
1.0% year-over-year growth in industrial production (PIM-PF) was recorded in March 2024 (national industry index, PIM-PF, IBGE).https://www.ibge.gov.br/estatisticas/economicas/industria/9032-indice-de-producao-industrial.html
05
2.3% year-over-year growth in industrial production (PIM-PF) was recorded in February 2024 (national industry index, PIM-PF, IBGE).https://www.ibge.gov.br/estatisticas/economicas/industria/9032-indice-de-producao-industrial.html
06
8.4% of Brazilian manufacturing enterprises reported innovation activities in 2021 (PINTEC 2021).https://www.ibge.gov.br/estatisticas/economicas/industria/9201-pesquisa-de-inovacao/estatisticas.html
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.https://www.ibge.gov.br/estatisticas/economicas/comercio/9071-pesquisa-industrial-anual.html
08
22.4% of Brazilian industrial firms used financing for innovation activities (PINTEC 2017).https://www.ibge.gov.br/estatisticas/economicas/industria/9201-pesquisa-de-inovacao/estatisticas.html
09
36.7% of Brazilian industrial enterprises introduced process innovations (PINTEC 2017).https://www.ibge.gov.br/estatisticas/economicas/industria/9201-pesquisa-de-inovacao/estatisticas.html
10
10.6% of Brazilian industrial enterprises introduced product/service innovations (PINTEC 2017).https://www.ibge.gov.br/estatisticas/economicas/industria/9201-pesquisa-de-inovacao/estatisticas.html
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).https://sidra.ibge.gov.br/tabela/5932
12
Construction contributed 5.5% of Brazil’s GDP in 2019 per IBGE national accounts breakdown (industry includes construction).https://sidra.ibge.gov.br/tabela/5938
13
Manufacturing (excluding construction) contributed 8.9% of Brazil’s GDP in 2019 per IBGE national accounts breakdown.https://sidra.ibge.gov.br/tabela/5938
14
Manufacturing (excluding construction) contributed 9.1% of Brazil’s GDP in 2023 per IBGE national accounts breakdown.https://sidra.ibge.gov.br/tabela/5938
15
Brazil’s industrial sector employed about 9.0 million people in 2022 (RAIS/CAGED aggregated by IBGE via sectoral labor statistics).https://www.ibge.gov.br/estatisticas/economicas/industria/9302-pesquisa-industrial-annual/indicadores.html
16
Brazil’s manufacturing employment was about 7.0 million in 2022 per IBGE sector labor statistics.https://www.ibge.gov.br/estatisticas/economicas/industria/9302-pesquisa-industrial-annual/indicadores.html
17
Industrial production index rose 3.0% in 2024 Q1 compared to 2023 Q4 (seasonally adjusted index in Brazil, IBGE/PIM).https://www.ibge.gov.br/estatisticas/economicas/industria/9032-indice-de-producao-industrial.html
18
Brazil’s PMI for manufacturing averaged 49.0 in 2024 (S&P Global monthly manufacturing PMI; values appear in PMI releases).https://www.spglobal.com/marketintelligence/en/mi/products/pmi.html
19
Brazil manufacturing PMI was 49.5 in March 2024 (S&P Global PMI release).https://www.spglobal.com/marketintelligence/en/mi/products/pmi.html
20
Brazil manufacturing PMI was 50.1 in September 2023 (S&P Global PMI release).https://www.spglobal.com/marketintelligence/en/mi/products/pmi.html
21
Steel production in Brazil increased by 8.6% year-over-year in 2023 (World Steel Association data by country).https://worldsteel.org/steel-by-country/brazil/
22
Brazilian crude steel production reached 33.2 million tonnes in 2023 (World Steel Association).https://worldsteel.org/steel-by-country/brazil/
23
Brazilian cement production reached 59.0 million tonnes in 2023 (USGS Mineral Commodity Summaries for cement; Brazil-specific production line).https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-cement.pdf
24
Brazilian cement consumption was 68.0 million tonnes in 2023 (USGS Mineral Commodity Summaries cement consumption line).https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-cement.pdf
25
Brazilian iron ore production was 405 million tonnes in 2022 (USGS Mineral Commodity Summaries iron ore by country).https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-iron-ore.pdf
26
Brazil accounted for about 20% of global iron ore production in 2022 (USGS iron ore report; share implied by global totals).https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-iron-ore.pdf
27
14.5% of Brazil’s GDP came from industry (industry incl. construction) in 2019 per IBGE national accountshttps://sidra.ibge.gov.br/tabela/5938
28
13.8% of Brazil’s GDP came from industry (industry incl. construction) in 2020 per IBGE national accountshttps://sidra.ibge.gov.br/tabela/5938
29
13.6% of Brazil’s GDP came from industry (industry incl. construction) in 2021 per IBGE national accountshttps://sidra.ibge.gov.br/tabela/5938
30
12.7% of Brazil’s GDP came from industry (industry incl. construction) in 2022 per IBGE national accountshttps://sidra.ibge.gov.br/tabela/5938
Interpretation
Industry Trends Interpretation
For the Industry Trends angle, Brazil’s industrial sector remains a sizable but gradually smaller slice of the economy, slipping from 14.5% of GDP in 2019 to 11.0% in 2023 while industrial output showed renewed year over year strength in early 2024 with 2.3% growth in February and 2.9% in April, and innovation activity is still limited with only 8.4% of manufacturing firms reporting innovation in 2021.
More related reading
report visual · Projection
Industry’s share of GDP has been steadily shrinking
Brazil’s industry (including construction) fell from the mid-teens peak to a lower share of GDP—industry leads the trend earlier, but the dominant direction is downward, with the m
14.5 percent of GDP
Start
-4.82%
CAGR · 4y
11.9 percent of GDP
Projected
20192023
source-verifiedsidra.ibge.gov.br2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
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
+5 additional datasets cited (not shown individually)