Economy
Have a look at relevant data concerning the most representative economic sectors in this metropolis.
Investment Grade Brazil / State / City: Prudent and Transparent Fiscal Management
The city of Rio implemented a cleanup of its public finances and multiplied its investment capacity by fivefold, continuously receiving the Investment Grade.
apr/08 | may/08 | jun/11 | mar/10 | nov/10 | dec/10 | dec/11 | may12 | mar/14 | |
---|---|---|---|---|---|---|---|---|---|
Brazil | BBB- (STANDARD&POOR'S) | BBB- (FITCH RATINGS) | Baa2 (Moody's) | BBB- (STANDARD&POOR'S) | |||||
State of Rio de Janeiro | BBB- (STANDARD&POOR'S) | ||||||||
City of Rio de Janeiro | Baa3 (Moody's) | BBB (FITCH RATINGS) | BBB (FITCH RATINGS) | BBB (STANDARD&POOR'S) |
Economic activity and growth
The Rio Gross Domestic Product represents 5.4% of the Brazilian GDP and achieves a GDP per capita 57.1% superior to that of the country.
Participation of major cities in total Brazilian GDP
2008 | 2009 | 2010 | 2011 | |
---|---|---|---|---|
São Paulo - SP | 11,8% | 12,02% | 11,77% | 11,51% |
Rio de Janeiro - RJ | 5,1% | 5,43% | 5,05% | 5,05% |
Brasília - DF | 3,9% | 4,1% | 4,0% | 4,0% |
Curitiba - PR | 1,4% | 1,4% | 1,4% | 1,4% |
Gross Domestic Product (GDP) per capita
2008 (in R$) | 2009 (in R$) | 2010 (in R$) | 2011 (in R$) | |
---|---|---|---|---|
City of Rio de Janeiro | 25.122 | 28.406 | 30.088 | 32.940 |
Brazil | 15.990 | 16.414 | 19.509 | 21.536 |
Gross Domestic Product (GDP) at current market prices (R$ millions)
City of Rio de Janeiro | Brazil | (%) City of Rio de Janeiro / Brazil | |
---|---|---|---|
2005 | 117.772 | 2.147.239 | 5,5% |
2006 | 128.026 | 2.369.484 | 5,4% |
2007 | 140.095 | 2.661.345 | 5,3% |
2008 | 154.777 | 3.032.203 | 5,1% |
2009 | 175.739 | 3.239.404 | 5,4% |
2010 | 190.249 | 3.770.084 | 5,0% |
2011 | 209.366 | 4.143.013 | 5,1% |
Source: IBGE, Brazilian Institute of Geography and Statistics.
83% of the total value of the 10 largest announced investments are being made by companies headquartered in the city do Rio de Janeiro.
10 Largest Investments Announced by Company Headquarter Location - 2010
# | Date | Company | State | Sector | Value (US$ Bi) | |
---|---|---|---|---|---|---|
1 | mar-10 | PETROBRAS | RJ | Oil and Gas | 46,4 | |
2 | sep-10 | OGX (EBX) | RJ | Oil and Gas | 30,0 | |
3 | oct-10 | VALE (CVRD) | RJ | Metallic Minerals | 8,9 | |
4 | dec-10 | THYSSENKRUP | RJ | Metallurgy | 6,8 | |
5 | sep-10 | TERNIUM (TECHINT) | RJ | Metallurgy | 6,0 | |
6 | feb-10 | USIMINAS | MG | Metallurgy | 5,6 | |
7 | sep-10 | ANGLO AMERICAN | PA | Metallic Minerals | 5,4 | |
8 | aug-10 | GRUPO GERDAU | MG | Metallurgy | 5,0 | |
9 | mar-10 | ELETROBRAS | RJ | Electricity and Gas Distribution | 4,7 | |
10 | oct-10 | BAHIA MINERALS - BML | BA | Metallic Minerals | 4,7 |
Source: RENAI/SDP/MDIC and Financial Times
Note: The ten largest announced investments represented 43.4% of total resources
Production Specialization
Source: MTE, Ministry of Labor and Employment. RAIS, Annual Listing of Social Information.
Source: MTE, Ministry of Labor and Employment. RAIS, Annual Listing of Social Information.
Companies
In the City of Rio de Janeiro, the business profile is basically made up of micro and small companies that employ between 0 and 99 employees. Of the total 122.48 thousand establishments that were active in the Rio economy in 2009, 98.03% employed less than 100 workers.
Number of establishments in the City of Rio de Janeiro and Brazil by size of establishment (number of employees) - 2011
Number of employees | City of Rio de Janeiro | Brazil | |
---|---|---|---|
0 (No active connection) | 8.642 | 112.711 | |
1 a 99 | 111.425 | 987.223 | |
100 a 499 | 1.963 | 15.514 | |
500 a 999 | 251 | 1.791 | |
1000 or more | 197 | 1.382 | |
Total establishments | 122.478 | 1.118.621 |
Source: MTE, Ministry of Labor and Employment. RAIS, Annual Listing of Social Information.
Empresa Bacana’ Program numbers (number of newly legalized companies in UPP communities, tax collection estimates, etc.)
The 'Empresa Bacana' has already been implemented in the following communities:
Area | # of Entrepreneurs Served ¹ | Location License ² | Final Licensing ³ | |
---|---|---|---|---|
Complexo do Alemão | 506 | 343 | 231 | |
UPP São João | 95 | 74 | 71 | |
UPP Turano | 330 | 330 | 320 | |
UPP Pavão/Cantagalo | 126 | 85 | 76 | |
UPP Chapéu Mangueira/Babilônia | 49 | 32 | 32 | |
UPP Macacos | 168 | 129 | 129 | |
UPP Borel / UPP Formiga | 239 | 157 | 133 | |
UPP's Cidade de Deus | 443 | 250 | 220 | |
UPP Providência | 212 | 72 | 53 | |
UPP Santa Marta | 82 | 65 | 60 | |
UPP Andaraí / UPP Salgueiro | 260 | 213 | 185 |
Source: City Government of Rio de Janeiro
Note:
¹ Total entrepreneurs served at the event.
² Total number of location requests analyzed by the event's Inspection Department.
³ Total requests for operating licenses approved at the event [corporate taxpayer registry + operating license].
Activity, Employment and Unemployment Indicators
In 2010, more than 2.7 million jobs were concentrated in the City of Rio de Janeiro. The average unemployment rate in Rio was much lower than that presented in Metropolitan Brazil (Metropolitan Regions of São Paulo, Rio de Janeiro, Salvador, Recife, Porto Alegre and Belo Horizonte).
Activity, Employment and Unemployment Indicators (%)
2009 | 2010 | |||||
---|---|---|---|---|---|---|
Activity rate* | Employment rate# | Unemployment rate** | Activity rate* | Employment rate# | Unemployment rate** | |
City of Rio de Janeiro | 53,8 | 94,5 | 5,5 | 53,9 | 94,4 | 5,1 |
Metropolitan Brazil | 56,6 | 91,6 | 8,4 | 57,0 | 97,7 | 5,3 |
2011 | 2012 | |||||
---|---|---|---|---|---|---|
Activity rate* | Employment rate# | Unemployment rate** | Activity rate* | Employment rate# | Unemployment rate** | |
City of Rio de Janeiro | 53,8 | 94,4 | 5,7 | 53,8 | 94,4 | 5,7 |
Metropolitan Brazil | 57,1 | 93,1 | 7,0 | 57,1 | 93,1 | 7,0 |
Source: IBGE, Brazilian Institute of Geography and Statistics. PME, Monthly Jobs Survey.
Notes:
* Activity rate: Proportion of people economically active in comparison with the population in working age.
# Employment rate: percentage of people employed in comparison to people that are economically active.
** Unemployment rate: percentage of unemployed people compared to economically active people.
OBS: Average yearly rate.
Source: IBGE, Brazilian Institute of Geography and Statistics. PME, Monthly Jobs Survey.
Rio de Janeiro is one of the cities in Brazil that presents a workforce with the largest number of years of educational attainment. In 2011, of the total of people employed, approximately 65% had at least a high school degree.
Source: CPS/FGV, from Pnad Microdata. News story Jornal O GLOBO.
Ranking of Family Income per capita by state – 2010
Ranking | State | Income per capita (in R$) | |
---|---|---|---|
1° | Distrito Federal - DF | 1.665,42 | |
2º | São Paulo - SP | 1.036,51 | |
3º | Rio de Janeiro - RJ | 993,21 | |
4º | Santa Catarina - SC | 967,45 | |
5º | Rio Grande do Sul - RS | 940,28 | |
Brazil | 767,02 |
Source: CPS/FGV based on Microdata from Pnad. News story O GLOBO newspaper. Saturday, September 11, 2010.
A cidade do Rio de Janeiro, baseada especialmente no setor terciário, emprega aproximadamente 61% das pessoas nos segmentos: financeiro, imobiliário, de administração pública, de educação, de saúde, de defesa, de seguridade social e outros serviços.
Cost of Living
Basic Food Basket Per City (R$) – DIEESE
City | dec/10 | dec/11 | dec/12 | |
---|---|---|---|---|
São Paulo | 265,2 | 277,3 | 304,9 | |
Porto Alegre | 252,2 | 276,9 | 290,9 | |
Vitória | 242,0 | 275,4 | 290,9 | |
Belo Horizonte | 236,2 | 264,0 | 290,9 | |
Rio de Janeiro | 242,7 | 262,9 | 290,3 | |
Florianópolis | 238,1 | 262,4 | 290,1 | |
Manaus | 252,1 | 255,8 | 281,8 | |
Curitiba | 244,0 | 248,6 | 276,0 | |
Brasília | 233,7 | 247,9 | 271,6 | |
Goiânia | 234,6 | 246,7 | 271,3 | |
Belém | 226,1 | 243,8 | 263,2 | |
Recife | 205,5 | 216,0 | 252,8 | |
Fortaleza | 205,7 | 215,2 | 249,0 | |
Natal | 219,8 | 212,4 | 239,7 | |
Salvador | 201,7 | 208,8 | 237,9 | |
João Pessoa | 194,2 | 204,2 | 227,1 | |
Aracaju | 175,9 | 182,2 | 204,1 |
Source: Dieese
Wholesale and Retail Trade
In 2010, of the total formal jobs in the city, 13.70% were employed in the retail activity.
Indicators of Wholesale and Retail Trade in the City of Rio de Janeiro
Type | Establishments | Average remuneration (R$) | |
---|---|---|---|
Wholesale | 8.149 | 2.384,92 | |
Retail | 57.599 | 1.009,99 |
Source: BDA-IPP, Pereira Passos Institute and MTE, Ministry of Labor and Employment, RAIS, Annual Listing of Social Information and ISS
Relação Anual de Informações Sociais e ISS Mapa de Distribuição do Comércio Atacadista e Varejista por Bairro
Number of Shopping Centers
2011 | 2012¹ | % | |
---|---|---|---|
Brazil | 430 | 465 | 8% |
City of Rio de Janeiro | 31 | 34 | 10% |
Gross Rentable Area (millions of m²)
2011 | 2012 | % | |
---|---|---|---|
Brazil | 10,38 | 11,65 | 12% |
City of Rio de Janeiro | 1 | 1,1 | 10% |
Jobs Created
2011 | 2012 | % | |
---|---|---|---|
Brazil | 775383 | 877000 | 13% |
City of Rio de Janeiro | - | - | - |
Source: Brazilian Shopping Center Association (ABRASCE) and Rio Negócios
¹ The city of Rio de Janeiro has 39 Shopping Centers, only 31 are members and accounted by ABRASCE
Over 15% of all retail establishments are located in shopping centers.
List of Shopping Centers in the City of Rio de Janeiro - 2012
Shopping Center | Neighborhood | Inauguration | Stores | Offices | Parking Spaces | Movie Theaters | Theaters | |
---|---|---|---|---|---|---|---|---|
Bangu Shopping | Bangu | 2007 | 201 | 0 | 2662 | 6 | 0 | |
Barra Garden | Barra da Tijuca | 1997 | 160 | 29 | 400 | 0 | 0 | |
Barra Point | Barra da Tijuca | 1996 | 100 | 0 | 200 | 2 | 0 | |
Barra Shopping | Barra da Tijuca | 1981 | 578 | 0 | 4000 | 0 | 0 | |
Barra Square | Barra da Tijuca | 1995 | 114 | 28 | 270 | 0 | 1 | |
Barra World Shopping | Recreio dos Bandeirantes | S/I | S/I | S/I | S/I | S/I | S/I | |
Botafogo Praia Shopping | Botafogo | 1999 | 170 | 0 | 1000 | 6 | 0 | |
Boulevard Rio Iguatemi | Vila Isabel | 1996 | 200 | 0 | 1500 | 7 | 0 | |
Carioca Shopping | Vicente de Carvalho | S/I | 180 | 0 | 1487 | 8 | 0 | |
Casa & Gourmet | Botafogo | 1994 | 33 | 0 | 350 | 0 | 0 | |
Casa Shopping | Barra da Tijuca | 1984 | 110 | 208 | 1400 | 0 | 0 | |
Città América | Barra da Tijuca | 2000 | 594 | N/I | 2000 | 0 | 0 | |
Downtown | Barra da Tijuca | 1998 | 520 | 787 | 3068 | 12 | 0 | |
Fashion Mall | São Conrado | 1982 | 128 | 0 | 740 | 4 | 2 | |
Ilha Plaza | Jardim Carioca | 1992 | 132 | 0 | 579 | 4 | 0 | |
Leopoldina Shopping | Penha | 2000 | 30 | 21 | 122 | 0 | 0 | |
Madureira Shopping | Madureira | 1989 | 170 | 0 | S/I | 5 | 0 | |
New York City Center | Barra da Tijuca | 1999 | 40 | 0 | S/I | 18 | 0 | |
Norte Shopping | Cachambi | 1986 | 368 | 0 | 3725 | 10 | 1 | |
Nova América | Del Castilho | 1995 | 230 | 154 | S/I | 7 | 0 | |
ParkShopping Campo Grande | Campo Grande | 2012 | 276 | 0 | 2985 | 7 | 0 | |
Quality Shopping | Freguesia de Jacarepaguá | 1999 | 240 | S/I | 350 | 0 | 1 | |
Recreio Shopping | Recreio dos Bandeirantes | 1997 | 135 | 109 | 1070 | 4 | 0 | |
Rio Design Barra | Barra da Tijuca | 2000 | 175 | 0 | 811 | 3 | 0 | |
Rio Design Leblon | Leblon | 2004 | 50 | 0 | S/I | 0 | 0 | |
Rio Shopping Jacarepaguá | Freguesia de Jacarepaguá | 1996 | 120 | S/I | 600 | 3 | 0 | |
Rio Sul | Botafogo | 1980 | 400 | 0 | S/I | 4 | 0 | |
Santa Cruz Shopping | Santa Cruz | 2001 | 133 | 0 | 234 | 0 | 0 | |
Shopping 45 | Tijuca | 1972 | 140 | 248 | S/I | 0 | 0 | |
Shopping Cassino Atlântico | Copacabana | S/I | S/I | S/I | S/I | S/I | S/I | |
Shopping Cidade Copacabana | Copacabana | S/I | 270 | S/I | S/I | S/I | S/I | |
Shopping da Gávea | Gávea | 1975 | 230 | 0 | 900 | 5 | 4 | |
Shopping Jardim Guadalupe | Guadalupe | 2011 | 220 | 0 | 1600 | 5 | 0 | |
Shopping Leblon | Leblon | 2006 | 200 | 0 | 1200 | 4 | 1 | |
Shopping Paço do Ouvidor | Centro | 1994 | 16 | 210 | S/I | S/I | S/I | |
Shopping Tijuca | Tijuca | 1996 | 343 | 200 | 1147 | 7 | 0 | |
Shopping Vertical | Centro | S/I | 63 | 0 | 0 | 0 | 0 | |
Star Center Shopping Rio | Tanque | 2001 | 112 | 0 | 850 | 4 | 0 | |
Via Brasil Shopping | Irajá | 2011 | 220 | 0 | 2850 | 6 | 0 | |
Via Parque | Barra da Tijuca | 1993 | 200 | 0 | 2135 | 6 | 0 | |
VillageMall | Barra da Tijuca | 2012 | 105 | 0 | 1700 | 4 | 1 | |
West Shopping | Campo Grande | 1997 | 166 | S/I | 1350 | 5 | 0 | |
Total | 7401 | 1994 | 38100 | 141 | 10 |
Source: Rio Negócios - Survey conducted in March 2013.
Real Estate
Main city regional statistics - 3T2011
Subregions | Total Inventory m² | Market Share | Vacancy Rate % | Gross absorption m² | New Inventory m² | Average Prices asked for rental (class A) R$/m²/month | |
---|---|---|---|---|---|---|---|
Centro | 1.828.500 | 63% | 1,7% | 56.300 | 34.300 | R$115 - $180 | |
Botafogo | 352.400 | 12% | 1,2% | 2.000 | - | R$115 - $160 | |
Flamengo | 51.500 | 2% | 3,3% | - | - | R$100 - $185 | |
Barra da Tijuca | 364.200 | 13% | 11,9% | 15.700 | - | R$80 - $120 | |
South Zone | 147.200 | 5% | 1,9% | 3.700 | - | R$150 - $250 | |
Others | 148.700 | 5% | 4,7% | 700 | - | R$60 - $100 | |
General Market | 2.892.500 | 100% | 3,1% | 78.400 | 34.300 | R$60 - $250 |
Source: - CB RICHARD ELLIS
New units introduced in the City of Rio de Janeiro by Planning Area and Type
2010 | 2011 | 2012 | |||||||
---|---|---|---|---|---|---|---|---|---|
Zones | Residential | Commercial | Total | Residential | Commercial | Total | Residential | Commercial | Total |
AP1 (Downtown and Port Area) | 105 | - | 105 | 20 | 596 | 616 | 18 | 341 | 359 |
AP2 (South Zone and Grande Tijuca) | 1.012 | 10 | 1.022 | 1.910 | 435 | 2.345 | 1.007 | 615 | 1.622 |
AP3 (Leopoldina Zone) | 3.803 | 893 | 4.696 | 2.129 | 263 | 2.392 | 3.626 | 511 | 4.137 |
AP4 (Barra and surrounding areas) | 8.350 | 1.957 | 10.307 | 8.189 | 7.617 | 15.806 | 9.788 | 2.018 | 11.806 |
AP5 (West Zone) | 3.479 | 385 | 3.864 | 2.832 | 1.206 | 4.038 | 1.350 | 207 | 1.557 |
Total | 16.749 | 3.245 | 19.994 | 15.080 | 10.117 | 25.197 | 15.789 | 3.692 | 19.481 |
Source: ADEMI - Association of Managers of Real Estate Companies.
Mais de 3000 empreendimentos foram licenciados na Cidade do Rio de Janeiro em 2011, que totalizaram mais de 5 milhões de metros quadrados de área. O segmento industrial apresentou um crescimento de quase 90% em relação ao ano anterior.