Overview: Puerto Rico has one of the most dynamic economies in the Caribbean region. Industry has surpassed agriculture as the primary sector of economic activity and income. Encouraged by duty-free access to the US and by tax incentives, US firms have invested heavily in the nation since the 1970s. Important new industries include pharmaceuticals, electronics, textiles, petrochemicals, and processed foods. 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 for the island.

GNP: $18.4 billion, per capita $5,574; real growth rate 4.9% (FY88)

Inflation rate (consumer prices): 33% (December 1987-88 ave.)

Unemployment rate: 12.8% (December 1988)

Budget: revenues $4.9 million; expenditures $4.9 million, including capital expenditures of $NA (FY88)

Exports: $13.2 billion (f.o.b., FY88); @m5commodities--sugar, coffee, petroleum products, chemical, metal products, textiles, electronic equipment; @m5partners--US 87%

Imports: $11.8 billion (c.i.f., FY88); @m5commodities--chemicals, clothing, food, fish products, crude oil; @m5partners--US 60%

External debt: $NA

Industrial production: growth rate 5.8% (FY87)

Electricity: 4,100,000 kW capacity; 13,759 million kWh produced, 4,180 kWh per capita (1988)

Industries: tourism, manufacturing, pharmaceuticals, chemicals, food processing, petroleum refining

Agriculture: dairy and livestock products, sugarcane, coffee, bananas, yams, pineapples, rum, plantains

Aid: NA

Currency: US currency is used

Exchange rates: US currency is used

Fiscal year: 1 July-30 June

NOTE: The information regarding Puerto Rico on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Puerto Rico Economy 1989 information contained here. All suggestions for corrections of any errors about Puerto Rico Economy 1989 should be addressed to the CIA.