Brazil Weekly

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Brazil's labor productivity rebounded in 2023
Agricultural productivity improved by 21 percent in 2023. Photo: Lourenço L.F./Shutterstock

Good morning! This week, the latest productivity trends in Brazil. The priorities of Brazil’s business lobbies. And what the government plans to do about the president’s recent drops in popularity.

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Brazil’s labor productivity rebounded in 2023

Brazil's labor productivity rebounded in 2023
Agricultural productivity improved by 21 percent in 2023. Photo: Lourenço L.F./Shutterstock

Brazil’s labor productivity rebounded last year after two years of decline, according to data from the Brazilian Institute of Economics at the think tank Fundação Getulio Vargas (FGV-Ibre).

State of play. The 1.9 percent increase comes from comparing the 3 percent increase in the economy’s value added — a variable similar to GDP but which excludes taxes and subsidies — and the 1.1 percent increase in hours worked, data extracted from the household survey of the Brazilian Institute of Geography and Statistics.

Be smart. The increase in productivity was mainly driven by the significant contribution of agriculture, especially in the first two quarters, as well as the creation of more formal jobs and higher employment rates among skilled workers.

  • Agricultural productivity grew by 21.1 percent in 2023, followed by manufacturing (2 percent) and services, which grew...

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