Salvador is the largest economy in the northeast and appears in 9th place in the ranking of cities with the largest Gross Domestic Product (GDP). With a total of R$63 billion, the study was carried out by the Brazilian Institute of Geography and Statistics (IBGE), which released last Friday (13), the study on the GDP of the country's municipalities in 2017.
When presenting the data, the numbers reveal that the capital of Bahia has advanced in positions in the national ranking over the years. However, in 2011, Salvador occupied the 12th position in GDP.
Urban Concentrations
In 2013, in the first year of the current administration of Mayor ACM Neto, it rose one position to 11th and in 2017, it reached 9th position nationally. Today, the municipality is among the 10 largest urban concentrations in Brazil, accounting for approximately 43% of the national GDP.
The sector that contributes the most to Salvador's GDP is services, which represents no less than 62% of the total and occupies the 8th position nationally in the sector's ranking, generating R$38,945,975 billion in the city, characterized by the provision of tourism services, financial activities and commerce. Next, industry, which accounts for 12% and occupies the 7th position nationally in the segment's ranking.
However, these transformations were not accompanied by better formal opportunities, better living conditions, or equity in income distribution. The strong concentration of income in the hands of a few and the poor distribution of industrial centers are strong obstacles to Bahia's development.
Sedur, Sérgio Guanabara attributes the results to the economic and development policy implemented during the administration of Mayor ACM Neto. “The fact is that since 2013, and notably after the launch of the Salvador 360 Program, the city has undergone profound transformation.
The public investment contributions made by the City of Salvador have contributed to reactivating the economy and encouraging the private sector. Therefore, there are solid reasons to believe in the continuity and sustainability of the growth of the economy of Salvador,” stated Guanabara.