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    Puerto Rico Economy 1997

      Economy - overview Puerto Rico has one of the most dynamic economies in the Caribbean region.A diverse industrial sector has surpassed agriculture as the primary locus of economic activity and income. Encouraged by duty-free access to the USand by tax incentives, US firms have invested heavily in Puerto Rico sincethe 1950s. US minimum wage laws apply. Sugar production has lost out to dairyproduction and other livestock products as the main source of income in theagricultural sector. Tourism has traditionally been an important source ofincome for the island, with estimated arrivals of nearly 3.9 million touristsin 1993.

      GDP purchasing power parity - $31.6 billion (1996 est.)

      GDP - real growth rate 3% (1996 est.)

      GDP - per capita purchasing power parity - $8,200 (1996 est.)

      GDP - composition by sector
      agriculture: NA%
      industry: NA%
      services: NA%

      Inflation rate - consumer price index 5.1% (1996 est.)

      Labor force
      total: 1.3 million (1996)
      by occupation: government 22%, manufacturing 17%, trade 20%, construction 6%, communicationsand transportation 5%, other 30% (1993)

      Unemployment rate 14% (FY95/96 est.)

      revenues : $5.1 billion
      expenditures: $5.1 billion, including capital expenditures of $NA (FY94/95)

      Industries pharmaceuticals, electronics, apparel, food products; tourism

      Industrial production growth rate 5% (1994 est.)

      Electricity - capacity 4.47 million kW (1994)

      Electricity - production 16.82 billion kWh (1994)

      Electricity - consumption per capita 4,231 kWh (1995 est.)

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

      total value : $22.9 billion (f.o.b. 1996)
      commodities: pharmaceuticals, electronics, apparel, canned tuna, rum, beverage concentrates,medical equipment
      partners: US 88% (1995 est.)

      total value: $19.1 billion (c.i.f. 1996)
      commodities: chemicals, clothing, food, fish, petroleum products
      partners : US 62% (1995 est.)

      Debt - external $NA

      Economic aid none

      Currency 1 US dollar (US$) = 100 cents

      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 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Puerto Rico Economy 1997 information contained here. All suggestions for corrections of any errors about Puerto Rico Economy 1997 should be addressed to the CIA.

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    Revised 06-Mar-02
    Copyright © 2002 Photius Coutsoukis (all rights reserved)