 The service sector plays a very important role in the economy of Belo Horizonte, being responsible for 85% of the city's gross domestic product (GDP), with the industry making up for most of the remaining 15%.Belo Horizonte has a developed industrial sector, being traditionally a hub of the Brazilian siderurgical and metallurgical industries, as the state of Minas Gerais has always been very rich in minerals, specifically iron ore.

Belo Horizonte is the distribution and processing centre of a rich agricultural and mining region and the nucleus of a burgeoning industrial complex.Production is centred on steel, steel products, automobiles, and textiles.