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Puerto Rico
| 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 2001-03, largely due to the slowdown in the US economy, and has recovered in 2004. |
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| Economy Statistics |
| Exports: |
$46.9 billion f.o.b. (2001) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 90.3%, UK 1.6%, Netherlands 1.4%, Dominican Republic 1.4% (2002 est.) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$29.1 billion c.i.f. (2001) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
chemicals, machinery and equipment, clothing, food, fish, petroleum products [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
US 55.0%, Ireland 23.7%, Japan 5.4% (2002 est.) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Puerto Rican Chamber of Commerce of South Florida |
| Address: |
3550 Biscayne Blvd,
Suite 306
Miami, FL 33137
United States |
| Phone: |
305-571-8006 |
| Fax: |
305-571-8007 |
| Website: |
http://www.puertoricanchamber.com/ |
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