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Economic Research – Santander Brazil

Economic Research - Santander

Stay ahead of economic changes.

Data, projections and economy analysis.
Complete reports and studies in one place.
Investors, businesspeople and other interested parties.

Macroeconomic Forecast

Indicators202220232024Forecasts 2025Forecasts 2026

GDP Growth Rate (%)

3,0

2,9

3,4

1,8

1,5

Inflation (% YoY) - IPCA

5,8

4,6

4,8

6,0

4,6

Inflation - IGP-M (%)

5,5

-3,2

6,5

5,7

4,8

Exchange rate (eop) – R$/US$

5,22

4,84

6,18

6,00

6,15

Interest rate (% p.a. eop) - Selic

13,75

11,75

12,25

14,50

13,00

Unemployment rate - average

9,5

8,0

6,9

6,4

7,1

Trade Balance (USD Bn)

61,5

98,8

66,2

80,1

75,0

Current Account (% of GDP)

-2,5

-1,4

-2,6

-2,4

-2,6

Public Sector Primary Fiscal Result (% of GDP)

1,3

-2,3

-0,8

-1,0

-0,7

Consult the Chartbook

Access our main indicators here, including those from previous years.

Santander Economists

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