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 2004. Growth fell off in 2001-03, largely due to the slowdown in the US economy, and has recovered in 2004-2005.

GDP (purchasing power parity):
$72.52 billion (2005 est.)

GDP (official exchange rate):
NA

GDP - real growth rate:
2.5% (2005 est.)

GDP - per capita (PPP):
$18,500 (2005 est.)

GDP - composition by sector:
agriculture: 1%
industry: 45%
services: 54% (2002 est.)

Labor force:
1.3 million (2000)

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

Unemployment rate:
12% (2002)

Population below poverty line:
NA%

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

Inflation rate (consumer prices):
6.5% (2003 est.)

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

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

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

Industrial production growth rate:
NA%

Electricity - production:
23.03 billion kWh (2003)

Electricity - consumption:
21.42 billion kWh (2003)

Electricity - exports:
0 kWh (2003)

Electricity - imports:
0 kWh (2003)

Oil - production:
436.1 bbl/day (2003 est.)

Oil - consumption:
218,000 bbl/day (2003 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Natural gas - production:
0 cu m (2003 est.)

Natural gas - consumption:
740 million cu m (2003 est.)

Natural gas - exports:
0 cu m (2001 est.)

Natural gas - imports:
630 million cu m (2001 est.)

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

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

Exports - partners:
US 90.3%, UK 1.6%, Netherlands 1.4%, Dominican Republic 1.4% (2004)

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

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

Imports - partners:
US 55.0%, Ireland 23.7%, Japan 5.4% (2004)

Debt - external:
$NA

Economic aid - recipient:
$NA

Currency (code):
US dollar (USD)

Exchange rates:
the US dollar is used