Puerto Rico (2008) | Puerto Rico (2007) | |
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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. | 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. |
Exports | 10,580 bbl/day (2004) | NA bbl/day |
GDP - real growth rate | -1.2% (2007 est.) | 0.5% (2006 est.) |
Imports | 230,100 bbl/day (2004) | NA bbl/day |
Telephone system | general assessment: modern system integrated with that of the US by high-capacity submarine cable and Intelsat with high-speed data capability
domestic: digital telephone system; cellular telephone service international: country code - 1-787, 939; submarine cables provide connectivity to the US, Caribbean, Central and South America; satellite earth station - 1 Intelsat |
general assessment: modern system integrated with that of the US by high-capacity submarine cable and Intelsat with high-speed data capability
domestic: digital telephone system; cellular telephone service international: country code - 1-787, 939; satellite earth station - 1 Intelsat; submarine cable to US |