Brazil’s GDP grew by 0.9% in Q2 2023, surpassing market expectations of 0.3% and extending the 1.8% expansion in Q1 2023. The data highlights the resilience of the Brazilian economy despite high real interest rates set by its central bank. The growth was driven by a 0.9% rise in household consumption and a 0.7% increase in government consumption. Also, the country registered a trade surplus of USD 9.8 bln in August, widening by 137.8% from the USD 4.09 bln in the corresponding month of the prior year. The economy expanded by 3.4% YoY.