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    Puerto Rico Economy - 2003
    https://theodora.com/wfb2003/puerto_rico/puerto_rico_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

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


      GDP: purchasing power parity - $45.7 billion (2002 est.)


      GDP - real growth rate: 0.5% (2002 est.)


      GDP - per capita: purchasing power parity - $11,500 (2002 est.)


      GDP - composition by sector: agriculture: 1%
      industry: 45%
      services: 54% (1999 est.)


      Population below poverty line: NA%


      Household income or consumption by percentage share: lowest 10%: NA%
      highest 10%: NA%


      Inflation rate (consumer prices): 5% (2002 est.)


      Labor force: 1.3 million (2000)


      Labor force - by occupation: agriculture 3%, industry 20%, services 77% (2000 est.)


      Unemployment rate: 12% (2002)


      Budget: revenues: $6.7 billion
      expenditures: $9.6 billion, including capital expenditures of $NA (FY99/00)


      Industries: pharmaceuticals, electronics, apparel, food products; tourism


      Industrial production growth rate: NA%


      Electricity - production: 20.9 billion kWh (2001)


      Electricity - production by source: fossil fuel: 99.2%
      hydro: 0.8%
      other: 0% (2001)
      nuclear: 0%


      Electricity - consumption: 19.44 billion kWh (2001)


      Electricity - exports: 0 kWh (2001)


      Electricity - imports: 0 kWh (2001)


      Oil - production: 0 bbl/day (2001 est.)


      Oil - consumption: 190,000 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Agriculture - products: sugarcane, coffee, pineapples, plantains, bananas; livestock products, chickens


      Exports: $46.9 billion f.o.b. (2001)


      Exports - commodities: chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment


      Exports - partners: US 88.2%, UK 1.5%, Dominican Republic 1.4% (2001)


      Imports: $29.1 billion c.i.f. (2001)


      Imports - commodities: chemicals, machinery and equipment, clothing, food, fish, petroleum products


      Imports - partners: US 53.5%, Ireland 16.3%, Japan 4.5% (2001)


      Debt - external: $NA


      Economic aid - recipient: $NA


      Currency: US dollar (USD)


      Currency code: USD


      Exchange rates: the US dollar is used


      Fiscal year: 1 July - 30 June

      NOTE: The information regarding Puerto Rico on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Puerto Rico Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/puerto_rico/puerto_rico_economy.html

    Revised 20-Sep-03
    Copyright © 2020 Photius Coutsoukis (all rights reserved)