Rio, February 27, 2004 (Agência Brasil - ABr) - Brazil's Gross Domestic Product (GDP) fell 0.2% in 2003, compared with 2002. This result is a consequence of the 1.7% decline in taxes on products, especially non-metallic minerals, pharmaceuticals and perfumes, plastics, clothing, and beverages. Per capital GDP also fell in 2003, down 1.5% in relation to 2002.

Consumption by families in 2003 was 3.3% lower than in 2002, and gross fixed capital formation, that is, investments made by the government and private firms, fell even more, 6.6% in relation to 2002.

On the other hand, exports of goods and services kept up their positive performance and ended the year up 14.2% in relation to 2002.

According to the IBGE (Brazilian Institute of Geography and Statistics), the GNP rose 1.5% in the fourth quarter of 2003, in comparison with the third quarter. This result was driven by a 7.3% growth in agriculture, as the harvest began for products such as sugarcane. During the same period industry grew 1.2% and services, 0.8%. (DAS)