Economic overview Puerto Rico, in 36 editions.

Puerto Rico has one of the most dynamic economies in the Caribbean region. Industry has surpassed agriculture as the primary sector 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 1970s. 1950s. Important new industries include pharmaceuticals, electronics, textiles, petrochemicals, and processed foods. 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 for the island. The economy is slowly recovering from the disruptions caused by Hurricane Hugo in September 1989. The tourism infrastructure was especially hard hit.

Puerto Rico has one of the most dynamic economies in the Caribbean region.
Industry has surpassed agriculture as the primary sector of economic
activity and income. Encouraged by duty-free duty free access to the US and by tax
incentives, US firms have invested heavily in Puerto Rico since the 1950s.
Important new industries include pharmaceuticals, electronics, textiles,
petrochemicals, and processed foods. 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 for the island. The economy is slowly recovering has largely recovered from the
disruptions caused by Hurricane Hugo in September 1989. The tourism
infrastructure was has been especially hard hit.

Puerto Rico has one of the most dynamic economies in the Caribbean region.
Industry has surpassed agriculture as the primary sector 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. Important new industries include pharmaceuticals,
electronics, textiles,
petrochemicals, and processed foods. 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 for the island. The economy has largely recovered from the island, with estimated arrivals of
disruptions caused by Hurricane Hugo nearly 3 million tourists in September 1989. The tourism
infrastructure has been especially hard hit.

Puerto Rico has one of the most dynamic economies in the Caribbean region.
region. Industry has surpassed agriculture as the primary sector of economic
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. Important industries
include pharmaceuticals,
electronics, textiles, petrochemicals, and
processed foods. 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 for the island, with estimated arrivals of
nearly 3
million tourists in 1989. Unemployment remains a severe problem at
18%.

Puerto Rico has one of the most dynamic economies in the Caribbean
Caribbean region. Industry has surpassed agriculture as the primary
sector 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. Important industries
industries include pharmaceuticals, electronics, textiles,
petrochemicals, and
processed foods. 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
important source of income for the island, with estimated arrivals of nearly 3
nearly 3.9 million tourists in 1989. Unemployment remains a severe problem at
18%. 1993.

Puerto Rico has one of the most dynamic
economies in the
Caribbean region. Industry has surpassed
agriculture as the primary
sector of economic activity and income.
Encouraged by duty free 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. Important
industries include
pharmaceuticals, electronics, textiles,
petrochemicals, and
processed foods. 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 for the island, with estimated arrivals of
nearly
3.9 million tourists in 1993.

Puerto Rico has one of the most dynamic
economies
in the Caribbean region. Industry A diverse industrial sector has surpassed
agriculture as the primary sector 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. Important industries include
pharmaceuticals, electronics, textiles, petrochemicals, and
processed foods. 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 for the island, with estimated arrivals of nearly
3.9
million tourists in 1993.

Puerto Rico has one of the most dynamic economies
in
the Caribbean region. A diverse industrial sector has 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 for the island, with estimated arrivals of nearly 3.9 4
million tourists in 1993. The construction sector has been a key
factor in recent economic growth.

Puerto Rico has one of the most dynamic
economies in
the Caribbean region. A diverse industrial sector has surpassed
surpassed agriculture as the primary locus of economic activity and income.
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
important source of income for the island, with estimated arrivals
of nearly 4
million tourists in 1993. The construction sector has been a key Construction and tourism were
factor the leading sectors in recent economic growth. growth in 1998.

Puerto Rico has one of the most dynamic
economies in the Caribbean region. A diverse industrial sector has
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 for the island, with estimated arrivals
of nearly 4 5 million tourists in 1993. Construction and tourism were
1999. Prospects for 2000 are good, assuming continued strength in the leading tourism and construction sectors in economic growth in 1998. and continuation of the US boom.

Puerto Rico has one of the most dynamic economies in the Caribbean region. A diverse industrial sector has 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 for the island, income, with estimated arrivals of nearly 5 million tourists in 1999. Prospects for 2000 2001 are good, assuming continued strength clouded by a probable slowing down in both the tourism and construction and tourist sectors and continuation of the US boom. by increasing inflation, particularly in energy and food prices; estimated growth will be 2%.

Puerto Rico has one of the most dynamic economies in the Caribbean region. A diverse industrial sector has 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 1999. Prospects for 2001 are clouded by a probable slowing down Growth fell off in both 2001, largely due to the construction and tourist sectors and by increasing inflation, particularly slowdown in energy and food prices; estimated growth will be 2%. the US economy.

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 1999. Growth fell off in 2001, 2001-02, largely due to the slowdown in the US economy.

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 1999. Growth fell off in 2001-02, 2001-03, largely due to the slowdown in the US economy.

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 1999. Growth fell off in 2001-03, largely due to the slowdown in the US economy. economy, and has recovered in 2004.

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 1999. 2004. Growth fell off in 2001-03, largely due to the slowdown in the US economy, and has recovered in 2004. 2004-2005.

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, and has recovered in 2004-2005. 2004-05, but declined again in 2006.

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. 2006-07.

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, 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.

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 more than 3.6 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. 2008.

Puerto Rico has one of the most dynamic economies in the Caribbean region. A diverse region, however, growth has been negative for the past four years, and unemployment rose to nearly 16% in 2011. The 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, Mainland 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 more than 3.6 million tourists in 2008. Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government.

Puerto Rico had one of the most dynamic economies in the Caribbean region until 2006, 2006; however, growth has been negative for each of the last nine years. The down-turn downturn coincided with the phase-out phaseout of tax preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the price of oil, which generates most of the island's electricity.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 13.7% in December 2014. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about half that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus amounts to about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures narrowed to 0.2% of GDP in 2014, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP in 2014. Public debt rose to nearly 94% 105% of GDP in 2014, the equivalent of $15,600 2015, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors.

Puerto Rico had one of the most dynamic economies in the Caribbean region until 2006; however, growth has been negative for each of the last nine 11 years. The downturn coincided with the phaseout of tax preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the price of oil, which generates most of the island's electricity.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 13.7% in December 2014. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about half two-thirds that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures narrowed amounted to 0.2% 0.6% of GDP in 2014, 2016, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP in 2014. GDP. Public debt rose declined to 105% 92.5% of GDP in 2015, 2016, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors.

Puerto Rico had one of the most dynamic economies in the Caribbean region until 2006; however, growth has been negative for each of the last 11 years. The downturn coincided with the phaseout of tax preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the price of oil, which generates most of the island's electricity.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 13.7% 11.5% in December 2014. 2017. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about two-thirds that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures amounted to 0.6% of GDP in 2016, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP. Public debt declined to remained steady at 92.5% of GDP in 2016, 2017, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors. Hurricane Maria hit Puerto Rico square on in September 2017, causing electrical power outages to 90% of the territory, as well as extensive loss of housing and infrastructure and contamination of potable water. Despite massive efforts, more than 40% of the territory remained without electricity as of yearend 2017. As a result of the destruction, many Puerto Ricans have emigrated to the US mainland.

Puerto Rico had one of the most dynamic economies in the Caribbean region until 2006; however, growth has been negative for each of the last 11 years. The downturn coincided with the phaseout of tax preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the price of oil, which generates most of the island's electricity.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 11.5% in December 2017. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about two-thirds that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures amounted to 0.6% of GDP in 2016, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP. Public debt remained steady at 92.5% of GDP in 2017, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors.
Hurricane Maria hit Puerto Rico square on in September 2017, causing electrical power outages to 90% of the territory, as well as extensive loss of housing and infrastructure and contamination of potable water. Despite massive efforts, more than 40% of the territory remained without electricity as of yearend 2017. As a result of the destruction, many Puerto Ricans have emigrated to the US mainland.