Rio, February 27, 2004 (Agência Brasil - ABr) - Brazil's Gross Domestic Product (GDP) ended 2003 down 0.2%, the worst performance since 1992, when the Brazilian economy suffered a 0.5% retraction, influenced by the political crisis involving President Fernando Collor de Melo's impeachment. Last year's per capita GNP, which represents the country's total production divided by the total population, also registered its worst performance in the last 11 years, with a 1.5% drop.

According to the National Accounts balance released today by the Brazilian Institute of Geography and Statistics (IBGE), the fall back in consumption by families and in construction weighed heavily in the final GDP result, as did the 1.7% drop in taxes on products, especially non-metallic minerals, pharmaceuticals and perfumes, plastics, clothing, and beverages. (DAS)