| Economy | Puerto Rico |
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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 2006-07. |
GDP (purchasing power parity):
|
$70.59 billion (2008 est.)
$72.03 billion (2007)
$73.35 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$17,800 (2008 est.)
$18,300 (2007 est.)
$18,700 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$88 billion (2008 est.) |
GDP - real growth rate:
|
-2% (2008 est.)
-1.8% (2007 est.)
0.5% (2006 est.) |
GDP - composition by sector:
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agriculture: 1%
industry: 45%
services: 54% (2002 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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6.5% (2003 est.) |
Central bank discount rate:
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void |
Commercial bank prime lending rate:
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void |
Stock of money:
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void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
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void |
Stock of domestic credit - per capita:
|
void |
Labor force:
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1.3 million (2000) |
Labor force participation rate:
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32.74 % of population |
Labor force - by occupation:
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agriculture: 2.1%
industry: 19%
services: 79% (2005) |
Unemployment rate:
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12% (2002) |
Budget:
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revenues: $6.7 billion
expenditures: $9.6 billion (FY99/00) |
Budget revenues per capita:
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1,688 USD per capita |
Public debt:
|
void |
Industries:
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pharmaceuticals, electronics, apparel, food products, tourism |
Industrial production growth rate:
|
NA% |
Electricity - production:
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23.84 billion kWh (2006 est.) |
Electricity - production per capita:
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6,004 kWh per capita |
Electricity - consumption:
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22.17 billion kWh (2006 est.) |
Electricity - consumption - per capita:
|
5,583 kWh per capita |
Electricity - exports:
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0 kWh (2007 est.) |
Electricity - imports:
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0 kWh (2007 est.) |
Oil - production:
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1,354 bbl/day (2007 est.) |
Oil - production per capita:
|
341 bbl/day per capita |
Oil - consumption:
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215,000 bbl/day (2007 est.) |
Oil - consumption - per capita:
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19.76 bbl/year per capita |
Oil - exports:
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10,610 bbl/day (2005) |
Oil - imports:
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230,700 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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736.2 million cu m (2007 est.) |
Natural gas - consumption - per capita:
|
186 cu m per capita |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
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736.2 million cu m (2007 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2006 est.) |
Agriculture - products:
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sugarcane, coffee, pineapples, plantains, bananas; livestock products, chickens |
Current account balance:
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void |
Current account balance - per capita:
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void |
Exports:
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$46.9 billion f.o.b. (2001) |
Exports per capita:
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11,811 USD per capita |
Exports - commodities:
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chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment |
Exports - partners:
|
void |
Imports:
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$29.1 billion c.i.f. (2001) |
Imports per capita:
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7,329 USD per capita |
Imports - commodities:
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chemicals, machinery and equipment, clothing, food, fish, petroleum products |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
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$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
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void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$NA |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
US dollar (USD) |
Exchange rates:
|
the US dollar is used |
Fiscal year:
|
1 July - 30 June |
|
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