Samarco and the economy
Economic contribution to the country
Samarco plays an important role in Brazil´s economy. In 2015, the Company ranked as the country’s 12th largest exporter, according to data form the Ministry of Development, Industry and Foreign Trade (MDIC).
Samarco’s revenue has a significant positive impact on the GDP of Minas Gerais and Espírito Santo. In some localities, the taxes generated directly by Samarco’s activities are vital to the local economy. Check out the numbers below:
Samarco’s revenue is equivalent to 1.5% of the GDP of Minas Gerais, and 6.4% of the GDP of Espírito Santo.
The taxes generated directly by Samarco’s activities correspond to 54% of the revenue of Mariana (MG), 35% of the revenue of Ouro Preto (MG), and 50% of the revenue of Anchieta (ES).
R$ 32 million in taxes were paid by Samarco to the municipalities under its direct influence in Espírito Santo in 2014. Another R$ 50 million were directed to the municipalities of direct influence in Minas Gerais, in that same year. *Data from 2014.
In 2015, Samarco’s exports represented 1% of the total exports of Brazil. Without the Company’s exports, the trade balance deficit would have tripled during the year. See some more data:
Value of Brazilian exports in 2015
Samarco revenue with exports in 2015
Participation of Samarco in Brazilian exports
Samarco´s importance in Brazilian trade balance
Sources: MDIC, IBGE (2013), SEFAZ-MG, SEFAZ-ES (IPVA + ICMS + ITCD), Agência Brasil and Samarco.
The Economic impacts of Samarco’s inactivity
A study conducted by Tendências Consultoria Integrada estimates direct and indirect impacts of Samarco’s inactivity on relevant economic variables. Among the results, the study points out that about 20,000 jobs may be at risk for next year if Samarco does not re-operate in the states of Minas Gerais and Espírito Santo in 2017.
To understand the economic and social consequences for Espírito Santo and Minas Gerais, access here the study results report made by Tendências.