Driven by agriculture, Goiás' GDP grows 3,8%.

Goiás 247_ Driven primarily by the agricultural sector, Goiás' estimated Gross Domestic Product (GDP) grew by 3,8% compared to 2011. The figures, calculated by the Mauro Borges Institute of Statistics and Socioeconomic Studies (IMB) and released this Thursday morning, the 14th, by the Secretary of Management and Planning, Giuseppe Vecci, reflect the moment of strong growth in the Goiás economy, which also impacted the industrial and service sectors.

“We had a 3,8% growth in our GDP, which, compared to Brazil's (0,9%), was four times greater. This is mainly due to the increase in production and productivity in the agricultural sector, which we have been using to channel into commodities and foreign sales, which has been reflected in our trade balance and export figures. We continue to add value to our industrial production and we also had good growth in the service sector, of around 3,5%. This reveals the strength of our economy and shows us that we need to improve our infrastructure more and more to continue having positive indicators,” explains Giuseppe Vecci.

According to IMB, Goiás' economy in 2012 generated approximately R$ 112 billion, compared to R$ 104,7 billion in 2011. While agriculture grew by 5,5% during the year, the industrial and service sectors each grew by 3,5%. In comparison with the seven states in the federation that perform this type of calculation, in the last quarter of last year, Goiás was the second fastest growing (3,5%), behind only Ceará (3,7%).

Agriculture, the mainstay of Goiás' economy, registered a strong increase (21%), with a harvest of 18,3 million tons. Due to demand from the domestic and international markets, corn was the product that contributed most to this result, growing 43,3% in the last production cycle and accounting for a 178% increase in exports. Other products that stood out in Goiás' agribusiness were soybeans (8,6% increase in productivity), beans (7,6%) and sugarcane (6,3%). In livestock farming, the highlight was the 9,1% increase in pig production and the 6,6% increase in milk production.

Industry and services

With a cumulative increase of 3,5%, the industry in Goiás achieved the second highest growth among Brazilian states, second only to Bahia (4,2%). Highlights of the sector included the pharmaceutical industry (up 17,7%) and non-metallic minerals (cement, in particular, with a 7,1% increase). "The food and beverage sector, despite a 3,3% decline, grew again by 19% in January of this year and shows signs of strong recovery," points out the head of the IMB, Lillian Prado.

“It is important to highlight that our industrial growth over the last 50 years has been based almost entirely on tax incentives – which will possibly be standardized by the Federal government to put an end to the so-called tax war. But, seeking to anticipate this, the government has already been meeting – with various sectors – to outline new strategies, new public policies to encourage growth and economic development in the State,” Vecci points out.

The service sector also registered a 3,5% increase, with notable growth in transportation (14,5%) and accommodation and food services (3,6%). Retail trade in Goiás expanded by 8,8% in 2012, with the books/newspapers/magazines segment showing the greatest growth (68,9%). "The arrival of Fnac in Goiás was largely responsible for the increase in this segment," said the head of the IMB.

Job creation

A direct reflection of the strong economic performance, Goiás generated a total of 66.230 new formal jobs in 2012. These numbers place the state sixth in job creation (relative figures) and fourth in absolute terms, with a 6,1% increase in its labor market.

The state's exports grew by 27,3%, while imports fell by 10,54%. As a result, Goiás' trade balance registered a surplus of 8,18%, with US$ 7,13 billion.