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 Puerto Rico since the 1950s. 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. The economy is slowly recovering from the disruptions caused by Hurricane Hugo in September 1989. The tourism infrastructure was especially hard hit.

GNP: $20.1 billion, per capita $6,100; real growth rate 3.6% (FY89)

Inflation rate (consumer prices): 6.3% (October 1989-90)

Unemployment rate: 14.9% (October 1990)

Budget: revenues $5.5 billion; expenditures $5.5 billion, including capital expenditures of $1.5 billion (FY89)

Exports: $16.4 billion (f.o.b., FY89); commodities--pharmaceuticals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment, instruments; partners--US 87%

Imports: $14.0 billion (c.i.f., FY89); commodities--chemicals, clothing, food, fish, petroleum products; partners--US 60%

External debt: $NA

Industrial production: growth rate 1.6% (FY89)

Electricity: 4,149,000 kW capacity; 14,844 million kWh produced, 4,510 kWh per capita (1990)

Industries: manufacturing of pharmaceuticals, electronics, apparel, food products, instruments; tourism

Agriculture: accounts for 3% of labor force; crops--sugarcane, coffee, pineapples, plantains, bananas; livestock--cattle, chickens; imports a large share of food needs

Economic aid: none

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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Puerto Rico Economy 1991 information contained here. All suggestions for corrections of any errors about Puerto Rico Economy 1991 should be addressed to the CIA.