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 years. The downturn coincided with the phaseout of A fee imposed by a government on personal or corporate incom... preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the The amount of money required to purchase something or to bri... of oil, which generates most of the island’s electricity.
The The management of money, currency and trade of a nation. The... of Puerto Rico is classified as a high income The management of money, currency and trade of a nation. The... by the World Bank and as the most competitive The management of money, currency and trade of a nation. The... in Latin America by the WEF. Based in Geneva, Switzerland, an non-profit, internatio.... The main drivers of its The management of money, currency and trade of a nation. The... are manufacturing, primarily pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably To provide or obtain funds for a business, commercial projec..., insurance, Also called Realty. Property consisting of land with permane..., and tourism. The geography of Puerto Rico and its political status are both determining factors on its economic prosperity, primarily due to its relatively small size as an island; its lack of natural resources used to produce raw materials, and, consequently, its dependence on imports; as well as its suzerainty to the United States which controls its foreign policies while exerting trading restrictions, particularly in its shipping industry.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. An economic situation in which jobless people, often those w... reached 16% in 2011, but declined to 13.7% in December 2014. US The legal lowest wage an employee can be paid by an employer... laws apply in Puerto Rico, hampering job expansion. For each person in the population. Per head. An expression o... 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 The buying and selling or exchange of goods and services. Th... surplus is exceptionally strong, with exports nearly 50% greater than imports, and its A bank account which can be used to make deposits, withdrawa... surplus about 10% of GDP.
Closing the Allocation of funds or the estimation of costs for a departm... deficit while restoring An increase in a region's or nation's production of goods an... 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 Allocation of funds or the estimation of costs for a departm... and a better accounting of costs would The annual income earned from an investment, usually express... an overall deficit of roughly 5% of GDP in 2014. Also known as National Debt. The total amount of money owed ... rose to 105% of GDP in 2015, about $17,000 per person, or nearly three times the For each person in the population. Per head. An expression o... Money owed to another person or organisation, such as a loan... of the State of Connecticut, the highest in the US. Much of that Money owed to another person or organisation, such as a loan... 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 $73 billion in Money owed to another person or organisation, such as a loan... and that it would seek a deal with its creditors.
- Country ISO3 : PRI
- Country Code : 630
- Income Group : High Income
- Lending Category : NA
- Region : Latin America and the Caribbean
- Currency Unit: United States Dollar (USD$)
- WTO Member : No
- The buying and selling or exchange of goods and services. Th... organisations : CARICOM (observant), Interpol (sub-bureau), IOC, ITUC, UNWTO (associate), UPU
- world rank : NA
- Regional Ranking : NA