Rio De Janeiro, Brazil

Rio de Janeiro has the second largest GDP of any city in Brazil, surpassed only by São Paulo. According to the IBGE, it is approximately US$ 201 billion, equivalent to 5.1% of the national total. The services sector comprises the largest portion of GDP (65.52%), followed by commerce (23.38%), industrial activities (11.06%) and agriculture (0.04%). Greater Rio de Janeiro, as perceived by the IBGE, has a GDP of US$ 187.374.116.000, constituting the second largest hub of national wealth. Per capita GDP is US$ 11,786. It concentrates 68% of the state’s economic strength and 7.91% of all goods and services produced in the country. Taking into consideration the network of influence exerted by the urban metropolis (which covers 11.3% of the population), this share in GDP rises to 14.4%. For many years brings together the second largest industrial hub of Brazil, with oil refineries, shipbuilding industries, steel, metallurgy, petrochemical, gas, chemical, textile, printing, publishing, pharmaceutical, beverages, cement and furniture. However, the last decades indicated a sharp transformation in its economic profile, which is acquiring more and more shades of a major national hub of services and businesses. The Stock Exchange of Rio de Janeiro (BVRJ), which currently trades only government securities, was the first stock exchange founded in Brazil in 1845 and located in the central region. Rio de Janeiro became an attractive place for companies to locate when it was the capital of Brazil, as important sectors of society and of the government were present in the city. The city was chosen as headquarters for state-owned companies such as Petrobras, Eletrobras, Caixa Econômica Federal and Vale. After the transfer of the capital to Brasília, it kept attracting more companies, especially after the discovery of oil in the Campos Basin, which produces most of the total oil production of Brazil. This made many oil and gas companies to be based in Rio de Janeiro, such as the Brazilian branches of Shell, EBX and Esso. The headquarters of BNDES, an important state institution, is also in Rio de Janeiro. The city is also the headquarters of large telecom companies, such as Intelig, Oi and Embratel. Rio ranks second nationally in industrial production and second financial and service center, trailing only São Paulo. The city’s industries produce processed foods, chemicals, petroleum products, pharmaceuticals, metal products, ships, textiles, clothing, and furniture. The service sector dominates the economy, however, and includes banking and the second most active stock market in Brazil, the Bolsa da Valores do Brasil.