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Among key Brazilian cities, Rio de Janeiro's tertiary sector is the largest (84% of the city's GVA in 2016). The city experienced a 0.5% fall in constant value household disposable incomes over 2011-2016 as a consequence of an economic recession. However, things are set to change as Euromonitor International expects the Brazilian economy to bounce back. Household disposable incomes are to increase by 4.7% in constant value terms in Rio de Janeiro over 2016-2021.
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Rio de Janeiro is Brazil's second largest economic centre (after São Paulo). The labour productivity level in Rio de Janeiro was 28% higher than in the rest of the country in 2016. The presence of a nationally significant port, some higher value-added business services and being the centre of the energy-based industry all contribute to the relatively high labour productivity level in the city.
Higher productivity in Rio de Janeiro does translate into a higher annual level of per household disposable income in the city, which surpassed the average for the rest of the country by 22% in 2016. This is partly impacted by the city's smaller household size and lower labour force participation rate compared with elsewhere in Brazil.
In 2016, per household consumer spending (excluding housing and transportation) in Rio de Janeiro exceeded the average of the remaining country by 18%. Particularly higher spending compared to the rest of the country is recorded in categories such as alcoholic beverages and tobacco, health goods and medical services, and household goods and services.
Rio de Janeiro's higher disposable income and lower transportation costs compared to the rest of the country, offsets the much higher expenditure on housing, making the city marginally affordable. As a result, average household spending on housing and transport in Rio de Janeiro was 20% greater than the average for the rest of Brazil in 2016.
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