Even though Brasilia is the capital city of Brazil, it is only the sixth largest city in the country. Brasilia has a “sui generis” status. It is not a municipality like almost all other cities of Brazil.
Since Brasilia is the seat of the government, its industries reflect its governmental status rather than economic. The main industries of the city are construction and services. The services industry includes government and legal services, banking and finance, food production, communication and entertainment. The services industry accounts for nearly 91% of the GDP of the city. The Brazilian government itself employs the largest number of people in the services sector.
Other important industries of the city are construction, pharmaceuticals, recycling, graphics, food processing and the furniture industry. The city exports wood products to all over the world.
Other industries that make a significant contribution to the economy of Brasilia are Information Technology and printing.
The landscape of the city and its surrounding areas makes it favorable for agriculture. The main agriculture products of the city are strawberries, lemons, oranges, mangoes, papaya, coffee, guava and soya beans.
The total Gross Domestic Product of the city stands at about $27.6 billion. The GDP of the city is divided as: 54.8% in Public Administration, 28.7% in services, 10.2% in industry, 6.1% in commerce and 0.6% in agriculture. Brasilia accounts for nearly 1.8% of the Brazilian GDP.
The city is home to several good universities and schools. Thus, availability of a skilled and qualified workforce is not a problem in the city. The city also has a vibrant cultural scene, and hosts many international events which attract visitors from all over the world.
Several multinational companies have their headquarters in the city.
Brasilia is a planned city and thus, the infrastructure is world class. Rail, road and air networks connect Brasilia to all other major cities of the world. The telecommunication and other public services utilities are state of the art. The per capita income of the city is much higher than the national average.
Investing in the real estate of Brasilia is a good idea because the rents are always increasing and the price of real estate is constantly appreciating.
The ease of doing business varies in different Brazilian cities. Brasilia is ranked as the number one city for the ease of starting a business. Complying with regulations is so easy in Brasilia that you can start a business in just 45 days. The tax burden is also lesser in Brasilia compared to certain other cities of the country.
The government of Brazil is trying to create a favorable environment for business in the city by easing the regulations. The aim of the government is to attract FDI and create more job opportunities for citizens of Brasilia.