Economic Information


The state of Espírito Santo makes up part, together with the States of Minas Gerais, Rio de Janeiro and São Paulo, of the so-called Development Belt of the South-east Region. It has a land area of 45,597 km, population of 3.4 million and GDP of US$ 45 billion.

The total investment forecast for Espírito Santo, from 2008 to 2015, is around US$ 35 billion.
The main sectors to receive private, public, mixed and foreign resources are:

* energy (89.8% of values relative to energy are pertinent to extraction, beneficiation and distribution of oil and gas);
* industry (66.8% of this value is with reference to projects by the largest companies such as Vale, Arcelor Mittal, Aracruz Celulose and Samarco Mineradora);
* port terminal, airport and storage;
* commerce, services and leisure;
* transport;
* environment;
* agro-industry;
* sanitation; education; and
* health.

Espírito Santo is the second-biggest producer of oil and gas in the country. Gas production is 1.3 million m³/day, and may reach 20 million in 2010.
oil production is 150,000 barrels per day, with a forecast of 500,000, in 2010. With the discovery of vast reservoirs in the pre-salt area, it is estimated that reserves will grow from the current level of 2.5 billion litres to 8 billion. Once the oil is associated with gas this will make the country self-sufficient in natural gas, in the next few years.
Royalties received by the 78 municipalities amounted to US$ 95 million in 2007, and 13 of those, among producers and coastal municipalities, received US$ 80 million.
Petrobrás will invest US$ 7.0 billion until 2015, around 10% of the company’s total investment worldwide.
The network of Gasene’s gas pipelines should be ready in 2009. It comprises, in Espírito Santo, of Cabiúnas-Vitória, 300km long; Vitória-Cacimbas (Linhares), 131 km; and Cacimbas-Catu, 940 km in length.

The largest iron pellet production and exporting complex in the world is located in Espírito Santo and is made up of Vale, Nibrasko, Kobrasco, Itabrasco, Hispanobras and Samarco, and moved over 45 billion tons of pellets in 2007.
Vale - Companhia Vale do Rio Doce will invest US$ 1.7 billion, until 2015, in operational improvements to the Tubarão Port, construction of their 8th pelletization plant and construction of the Southern Coastal Railway (Ferrovia Litorânea Sul); Samarco, in the same period, will be investing US$ 1.5 billion to increase their production capacity and to conclude the 2nd mineral pipeline for transport of iron ore pulp.
Ferrous Resources intends to invest US$ 2.6 billion in installation of 03 pelletization plants (with production capacity of 7 million tons per year), deep water port (20m) and mineral pipeline to transport iron ore pulp (400km/36’), generating around 3,800 jobs, in Presidente Kennedy, a city in the south of the State.

Arcelor Mittal, the world’s biggest steel slab producer, produces 5 million tons of slabs and 2.8 million tons of coils. It has invested US$ 680 million to construct the third blast furnace and peripheral units.
Vale, in partnership with Baosteel, intends to install the Vitória Steel Works Company (CSV-Cia Siderúrgica Vitória), whose complex is earmarked for installation of a steelmaking plant, deep water port and southern coastal railway, in Anchieta, southern of Espirito Santo. Investment forecast is to the tune of US$ 3.2 billion.

Aracruz Celulose is the largest manufacturer and exporter of short fiber whitened wood pulp on the planet. Its three factories are located in the state producing 2.8 million tons per year, which corresponds to 28% of world demand. Investments forecast are US$ 282 million for modernisation of plants A, B and C and construction of a fourth plant, "D".

Espírito Santo is Brazil’s biggest producer and exporter of ornamental stones in the country. State exports totalled US$ 726.1 million in 2007, corresponding to the sale of 1.44 million tons. Espírito Santo continues to lead exports in this sector, accounting for 66.4% of turnover and 57.6% physical volume of the Brazilian total. Processed stones, represented mainly by polished granite slabs, made up 86% of state exports. The 1,250 companies in the state employ over 20,000 people. Here, there are 812 gang saws in operation, 52% of the Brazilian total, and eight of the ten biggest marble and granite exporting companies are based here. The sector accounts for 7% on the State GDP.

With vast range and diversity, metal mechanical activity constitutes the base of the state’s industrial economy, with 1,362 companies (40% of Espírito Santo’s total industries), which generate over 30,000 direct jobs, 120,000 indirect (23% of the total of capixaba industry) and turnover exceeded US$ 5 billion in 2007 (17% of Espirito Santo GDP).

The state’s civil construction sector saw a 2007 turnover of US$ 1.5 billion and is growing vertiginously with the entry of the biggest companies in this field, attracted by this dynamic economy which has grown above the Brazilian average for the last thirty years. The investments forecast is around US$ 1.5 billion.

The state is home to six sugar and alcohol industries and will receive investment, for expansion and construction of new plants for ethanol production, to the tune of US$ 750 million.

The Jurong Shipyard Company intends to invest US$ 500 million in construction of a shipyard to service Petrobras and 8.5 thousand direct and indirect jobs will be created in Barra do Riacho, municipality of Aracruz, in the north of Espirito Santo.

To provide the system of natural gas with logistics and infrastructure in keeping with the importance of the sector, an LPG outlet terminal will be constructed at the port of Barra do Riacho, Aracruz, with investment of US$ 110 million.