Introduction - Puerto Rico: |
Location - Puerto Rico: |
People - Puerto Rico: |
Government - Puerto Rico: |
Economy - Puerto Rico: |
Economy overview | Puerto Rico has one of the most dynamic economies in the Caribbean region. A diverse industrial sector has far surpassed agriculture as the primary locus of economic activity and income. Encouraged by duty-free access to the US and by tax incentives, US firms have invested heavily in Puerto Rico since the 1950s. US minimum wage laws apply. Sugar production has lost out to dairy production and other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income, with estimated arrivals of nearly 5 million tourists in 2004. Growth fell off in 2001-03, largely due to the slowdown in the US economy, recovered in 2004-05, but declined again in 2006. |
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Gdp purchasing power parity | $75.82 billion (2006 est.) |
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Gdp official exchange rate | NA (2006 est.) |
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Gdp real growth rate | 0.5% (2006 est.) |
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Gdp per capita ppp | $19,300 (2006 est.) |
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Gdp composition by sector | agriculture: 1%
industry: 45%
services: 54% (2002 est.) |
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Labor force | 1.3 million (2000) |
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Labor force by occupation | agriculture: 3%
industry: 20%
services: 77% (2000 est.) |
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Unemployment rate | 12% (2002) |
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Population below poverty line | NA% |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Inflation rate consumer prices | 6.5% (2003 est.) |
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Budget | revenues: $6.7 billion
expenditures: $9.6 billion; including capital expenditures of $NA (FY99/00) |
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Agriculture products | sugarcane, coffee, pineapples, plantains, bananas; livestock products, chickens |
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Industries | pharmaceuticals, electronics, apparel, food products, tourism |
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Industrial production growth rate | NA% |
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Electricity production | 24.14 billion kWh (2004) |
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Electricity consumption | 22.45 billion kWh (2004) |
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Electricity exports | 0 kWh (2004) |
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Electricity imports | 0 kWh (2004) |
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Oil production | 721.8 bbl/day (2004 est.) |
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Oil consumption | 234,000 bbl/day (2004 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 680 million cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 680 million cu m (2004 est.) |
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Exports | $46.9 billion f.o.b. (2001) |
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Exports commodities | chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment |
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Exports partners | US 90.3%, UK 1.6%, Netherlands 1.4%, Dominican Republic 1.4% (2006) |
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Imports | $29.1 billion c.i.f. (2001) |
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Imports commodities | chemicals, machinery and equipment, clothing, food, fish, petroleum products |
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Imports partners | US 55.0%, Ireland 23.7%, Japan 5.4% (2006) |
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Debt external | $NA |
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Economic aid recipient | $NA |
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Currency code | US dollar (USD) |
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Exchange rates | the US dollar is used |
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Communications - Puerto Rico: |
Transportation - Puerto Rico: |
Military - Puerto Rico: |
This page was last updated on 16 September, 2007