A year of pandemic and the impacts on economy
Progress in Covid-19 vaccination programs and new tax stimuli in some developed nations suggest the world may experience more robust economic recovery. For Brazil however, recovery seems distant, the GDP shrank 4.1% in 2020. On the other hand, a more dynamic global economy could benefit Brazilian exports and its balance of trade, especially if commodity prices go up. The Brazilian Central Bank’s projection for the GDP this year, and it is still a very uncertain one, but it is set on about 3.6%.
The market for high-end warehouses in Rio de Janeiro is quite promising, with net absorption of 74 thousand sq.m in the quarter. The vacancy rate continues to drop, ending the quarter at 15.5%, the lowest since 1Q15.Download Rio de Janeiro Industrial Market Report Q1 2021