The city's economic activity grew by 3,6% in 2024, compared to the previous year

The economy of Rio de Janeiro grew 3,6% in 2024, compared to the previous year, after adjusting for inflation. With this rate, the economic activity of the city of Rio was in line with the variation of Brazil's GDP (3,4%), as reported by the Brazilian Institute of Geography and Statistics (IBGE).

 

To monitor the city's economic performance on a monthly basis, the City of Rio, through the Municipal Secretariat for Economic Development, developed the Rio Economic Activity Indicator (IAE-Rio). The rate is a combination of tax collection data – both ISS and ICMS collected in the city – with other figures from the IBGE. In the 2021-2024 four-year period, there was a cumulative growth of IAE-Rio of 9,2%.

 

– Rio’s economy has been growing strongly in recent years, as a result of the work carried out by the City Hall – with new projects and initiatives that attract investment. The city has regained confidence and this is reflected in more people coming here, boosting the economy and generating jobs and income for those who live here – analyzed Osmar Lima, Municipal Secretary of Economic Development.

 

The SMDE also monitors the services sector, the main segment of Rio's economy, on a monthly basis. The Rio de Janeiro Service Activities Indicator (IAS-Rio), which measures the performance of this sector, grew 2,8% in real terms, accumulating 9,5% in the last four years (2021-2024).

 

The IAE-Rio and IAS-Rio are published monthly in the Rio Economic Bulletin. The full study is available at the Rio Economic Observatory, at the link economic observatory.rio.

Category:

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• Economic development
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March 25th, 2025

Appointments: Rio Economic Bulletin saving IAE-Rio IAS IBGE ICMS inflation ISS GPD