Puerto Rico Economic Growth The economy is set to recover mildly in FY 2021 (July 2020–June 2021), as growth is not expected until the second half of the year due to lingering uncertainty over the evolution of the pandemic and its associated measures weighing on activity. The average value for Puerto Rico during that period was 2.16 percent with a minimum of 0.48 percent in 2007 and a maximum of 9.69 percent in 1960. Puerto Rico manufacturing output for 2017 was $50.42B, a 0.24% decline from 2016. Country’s Gross Domestic Product (GDP): historical trends and projection 2.2. The Commonwealth of Puerto Rico has a population of around 3.3 million. GDP in Puerto Rico averaged 42.81 USD Billion from 1960 until … 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. You only have access to basic statistics. This is due to the big presence of US pharmaceutical companies in Puerto Rico that produce many drugs and allied products (2/3 of the manufacturing production in Puerto Rico comes from pharma). Facts and statistics about the GDP - composition by sector of Puerto Rico. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Puerto Rico has one of the most dynamic economies in the Caribbean region, however, growth has been negative for the past four years, and unemployment rose to nearly 16% in 2011. Puerto Rico has suffered from a severe and prolonged economic slump for more than a decade, with GDP, Chart 1 shows the year-by-year decline in real consumer spending and population for Puerto Rico. In 1940, agriculture represented 33.7 percent of total net income, while manufacturing had 12.8 percent of the total. Puerto Rico: Value added in the agricultural sector as percent of GDP: For that indicator, we provide data for Puerto Rico from 1960 to 2018. Because of our existing base, Puerto Rico has ramped up processes very quickly – tapping into a talented workforce of 90,000 manufacturing employees. Puerto Rico has changed from an agricultural economy, based primarily on sugar, tobacco, and coffee products, to a thriving modern industrial and services oriented economy. Under Spanish colonial rule the island was largely neglected because of its limited mineral resources. Mainland US firms have invested heavily in Puerto Rico … In Puerto Rico, the biggest economic sector is manufacturing, which represents around 45% of the GDP. Moreover, recurrent earthquakes pose … The San Juan-Caguas area is the largest of the island’s seven metropolitan areas, representing roughly 75 percent of the island’s economy. Definition: This entry shows where production takes place in an economy. ", World Bank, Puerto Rico: Distribution of gross domestic product (GDP) across economic sectors from 2008 to 2018 Statista, https://www.statista.com/statistics/397789/puerto-rico-gdp-distribution-across-economic-sectors/ (last visited December 03, 2020), Puerto Rico: Distribution of gross domestic product (GDP) across economic sectors from 2008 to 2018, Crude birth rate in Puerto Rico 2008-2018, Life expectancy at birth in Puerto Rico 2018, Gross domestic product (GDP) per capita in current U.S. dollars in Puerto Rico 2024, Distribution of gross domestic product (GDP) across economic sectors Puerto Rico 2018, Youth unemployment rate in Puerto Rico in 2020, Import of goods and services to Puerto Rico 2018, Global distribution of gross domestic product (GDP) across economic sectors 2018, Distribution of gross domestic product (GDP) across economic sectors Lesotho 2019, U.S. coffee production value in Hawaii and Puerto Rico 2000-2019, Price for coffee from Hawaii and Puerto Rico 2000-2019, Petroleum exports from the U.S. to U.S. Virgin Islands and Puerto Rico, Cesarean delivery percentage in Puerto Rico by ethnicity 2018, Guyana: population-weighted ozone pollution 2000-2017, Customer service robots - unit shipments in Latin America 2016-2022, Telecom Argentina: internet services revenue 2017-2019, Colombia: number of gynecologists 2011-2017, Forestry in China: afforestation area 2013, by region, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The Gross Domestic Product (GDP) in Puerto Rico expanded 1.50 percent in 2019 from the previous year. October 15, 2020. School enrollment, primary (% gross) Details. 2 Paseo La Princesa, San Juan, PR 00902 Phone: (787) 721-2400; Email: contact@tourism.pr.gov The United States Code, Title 13, authorizes this census and makes responding mandatory. Puerto Rico - Puerto Rico - The economy: Puerto Rico’s economy, now based on services and manufacturing, was dominated by agriculture until the mid-20th century. CO2 emissions (metric tons per capita) Details. "Puerto Rico: Distribution of Gross Domestic Product (Gdp) across Economic Sectors from 2008 to 2018. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Puerto Rico gdp per capita for 2017 was $31,109, a 1.57% increase from 2016. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. Puerto Rico : GDP Composition Breakdown. Puerto Rico manufacturing output for 2018 was $47.83B, a 5.13% decline from 2017. (212) 419-8286 The GDP value of Puerto Rico represents 0.09 percent of the world economy. The Government of Puerto Rico assists with the census. Of that, tens of thousands specialize in pharma … Updated as of 2019. Register in seconds and access exclusive features. Ratings by major rating agencies. Puerto Rico since the end of the Great Recession Puerto Rico's industry: had a negative growth (decline) of 0.20% since the end of the Great Recession Value & Rank The Services % of GDP of Puerto Rico is 50.5 (%) with a global rank of 147. 2.1. Access the latest politics analysis and economic growth summary through 2011 for Puerto Rico from The Economist Intelligence Unit Puerto Rico is ranked as Caribbeans high-income economy and Latin Americas most competitive economy. Please create an employee account to be able to mark statistics as favorites. The prototype estimates showed that the Puerto Rico economy, as measured by inflation-adjusted (or “real”) GDP, expanded from 2012 to 2014, before turning down in 2015 and continuing to decrease through 2018. Puerto Rico has a highly educated and skilled workforce and is considered a customs territory of the US making it possible for the companies from the US to establish in Puerto Rico. Population, total. Current investment climate 2.5. Puerto Rico gdp per capita for 2016 was $30,627, a 2.9% increase from 2015. Industry includes mining, manufacturing, energy production, and construction. That was partly due to the government’s tighter fiscal stance, natural disasters and a dwindling population. Exports of goods and services was a key contributor to changes in real GDP over this period. Chart. … Statista. 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