Brazil adjusted higher its economic growth rate from 2002 to 2005 than the one announced previously, due to the adoption of a new statistics calculation method.

Brazilian Institute of Geography and Statistics (IBGE) announced on Wednesday, the country's Gross Domestic Product (GDP) of 2005 was 931 billion U.S. dollars under the previous statistical method, which increases to 1032 billion dollars according to the new method.

This adjustment will upgrade Brazilian standing in the world economy. The Latin American country will overpass South Korea to become the tenth biggest economic entity in the world.

With the new method the growth rate of 2004 rises to 5.7 percent, up from 4.9 percent under the previous method, while figures of 2003 and 2002 also increase to 1.1 and 2.7 percent from 0.5 and 1.9 percent.

However, the updated figures of 2004 and 2005 released presently are not the confirmed results. They will be released at the end of this year, IBGE said.

The new statistical method takes 56 sorts of economic activities and 110 kinds of products into account, with turnovers in communication industries and consulting services added into the calculations. Besides the new method also includes the business of all kinds of NGO activities, various religious community activities as well as clubs, which were excluded in the previous statistical calculation method.

Source: Xinhua