Economy
The service sector is the largest component of GDP at 50.2%, followed by the industrial sector at 44.2%. Agriculture represents 5.6% of GDP (2004). Rio Grande do Norte exports: fish and crustacean 30.5%, fruits 19.3%, woven of cotton 12.3%, petroleum 10.8%, cashew 8.5%, sugar 5.3%, chocolate 3.9%, sea salt 3.7% (2002).
Share of the Brazilian economy: 0.9% (2004).
Historically, Rio Grande do Norte has relied upon sugar and cattle for its livelihood. However, since the 1980s, the state government has realised that tourism is a lucrative industry, and more money is being poured into the construction of tourist resorts, and restoring colonial buildings in major cities.
Fruit is also grown in Rio Grande do Norte, with the state supplying 70% of Brazil's melons, and the state is famed for its mango and cashew fields. The world's largest cashew tree is located in the state; it has a circumference of 500 centimetres and occupies an area of 7,300 cm², making it 70 times the size of average cashew trees. Rio Grande do Norte is also one of three Brazilian states that together produce the world's entire supply of carnauba wax.
Read more about this topic: Rio Grande Do Norte
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
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—Calvin Coolidge (1872–1933)
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—Henry David Thoreau (1817–1862)