Janeiro, as perceived by the IBGE, has a GDP of US$187 billion, constituting the second largest hub of national wealth. Per capita GDP is US$11,786. It concentrates 68% of the state's economic strength and 7.9% of all goods and services produced in the country. The services sector comprises the largest portion of GDP (65.5%), followed by commerce (23.4%), industrial activities (11.1%) and agriculture (0.1%). Benefiting from the federal capital position it had for a long period (1763–1960), the city became a dynamic administrative, financial, commercial and cultural center. Rio de Janeiro became an attractive place for companies to locate when it was the capital of Brazil, as important sectors of society and of the government were present in the city, even when their factories were located in other cities or states. The city was chosen as headquarters for state-owned companies such as Petrobras, Eletrobras, Caixa Econômica Federal, National Economic and Social Development Bank and Vale (which was privatized in the 1990s). The Rio de Janeiro Stock Exchange (BVRJ), which currently trades only government securities, was the first stock exchange founded in Brazil in 1845. Despite the transfer of the capital to Brasília in 1960, many of these headquarters remained within the Rio metropolitan area. The off-shore oil exploration in the Campos Basin began in 1968 and became the main site for oil production of Brazil. This caused many oil and gas companies to be based in Rio de Janeiro, such as the Brazilian branches of Shell, EBX and Esso. For many years Rio was the second largest industrial hub of Brazil, with oil refineries, shipbuilding industries, steel, metallurgy, petrochemicals, cement, pharmaceutical, textile, processed foods and furniture industries. Major international pharmaceutical companies have their Brazilian headquarters in Rio such as: Merck, Roche, Arrow, Darrow, Baxter, Mayne, and Mappel. A newer electronics and computer sector has been added to the more-established industries. Construction, also an important activity, provides a significant source of employment for large numbers of unskilled workers and is buoyed by the number of seasonal residents who build second homes in the Greater Rio de Janeiro area. Rio is an important financial center, second only to São Paulo in volume of business. Its securities market, although declining in significance relative to São Paulo, is still of major importance. Recent decades have seen a sharp transformation in its economic profile, which is becoming more and more one of a major national