RECIFE , Pernambuco , Brazil

Economy of Olinda

« More information about Olinda

The table below shows the composition of the economy of Olinda.
Source: Brazilian Institute of Geography and Statistics; click here for original data, in Portuguese.

Agriculture Industries Services Total Taxes Total Product
2001 2,103 430.315 554.547 53.956 1.026.803
2002 2.577 389.331 680.313 84.552 1.136.395

All amounts quoted in R$ 1,000. In 2001, the mean value of the dollar was around R$ 2.50, and in 2002, around R$ 3.00 (see a graph here); in 2006, the dollar was much weaker, around US$ 1 = R$ 2.20 (see current course here).

The table shows that:

  • the GNP of Olinda is around US$ 400 million, which makes it a mid-sized Brazilian city. For comparison, the GNP of Recife in the same years of 2001 and 2002 was, respectively, R$ 10.039.899 and R$ 11.410.058, about ten times bigger than Olinda.
    Olinda is currently the third largest city in Pernambuco (after Recife and Jaboatão); Ipojuca is growing fast, and should soon displace Olinda to fourth place.

  • the industrial sector is losing importance in Olinda. The city doesn't have the competitive advantages of Jaboatão and Ipojuca (plenty of space, better infrastructure, etc).
    On the other hand, the services sector, particularly tourism, is growing stronger every year. Olinda has the second largest shopping center of Pernambuco, the Tacaruna Shopping; besides, the Pernambuco Convention Center, one of the biggest and most modern in Brazil, is also located in Olinda.