Puerto Rico:
Economy

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Other pages in this profile of Puerto Rico:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $77.41 billion (2007 est.)
GDP (official exchange rate)	Definition $NA (2007 est.)
GDP - real growth rate	Definition - World rank and map -1.2% (2007 est.)
GDP - per capita	Definition - World rank and map $19,600 (2007 est.)
GDP - composition by sector	Definition agriculture: 1% industry: 45% services: 54% (2002 est.)
Labor force	Definition 1.3 million (2000)
Labor force - by occupation	Definition agriculture: 3% industry: 20% services: 77% (2000 est.)
Unemployment rate	Definition - World rank and map 12% (2002)
Population below poverty line	Definition NA%
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 6.5% (2003 est.)
Budget	Definition revenues: $6.7 billion expenditures: $9.6 billion (FY99/00)
Agriculture - products	Definition sugarcane, coffee, pineapples, plantains, bananas; livestock products, chickens
Industries	Definition pharmaceuticals, electronics, apparel, food products, tourism
Industrial production growth rate	Definition - World rank and map NA%
Electricity - production	Definition - World rank and map 24.96 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 23.21 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 5,863.9 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 1,354 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 230,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 58.1 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 10,580 bbl/day (2004)
Oil - imports	Definition - World rank and map 230,100 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 642.6 million cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 162 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 642.6 million cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Exports	Definition - World rank and map $46.9 billion f.o.b. (2001)
Exports - commodities	Definition chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment
Exports - partners	Definition US 90.3%, UK 1.6%, Netherlands 1.4%, Dominican Republic 1.4% (2006)
Imports	Definition - World rank and map $29.1 billion c.i.f. (2001)
Imports - commodities	Definition chemicals, machinery and equipment, clothing, food, fish, petroleum products
Imports - partners	Definition US 55.0%, Ireland 23.7%, Japan 5.4% (2006)
Debt - external	Definition - World rank and map $NA
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $NA
Currency (code)	Definition US dollar (USD)
Exchange rates	Definition the US dollar is used
Fiscal year	Definition 1 July - 30 June

Puerto Rico: Economy

Puerto Rico:
Economy