puerto rico gdp by sector

The services sector accounts for 37 percent of GDP and employs 291,000 people. School enrollment, primary (% gross) Details. The Economic Census's main goal is to provide periodic comprehensive data on Puerto Rico's economic activity and structure. Puerto Rico foreign trade 2.4. This release represents another major step by the Bureau to develop comprehensive economic accounts for Puerto Rico that are consistent with international guidelines and that … That was partly due to the government’s tighter fiscal stance, natural disasters and a dwindling population. However, re-building efforts made after Puerto Rico was hit by its biggest earthquake in a century in January 2020, should partially cushion the slowdown. Of that, tens of thousands specialize in pharma … Puerto Rico since the end of the Great Recession Puerto Rico's industry: had a negative growth (decline) of 0.20% since the end of the Great Recession Value & Rank The Services % of GDP of Puerto Rico is 50.5 (%) with a global rank of 147. Puerto Rico has suffered from a severe and prolonged economic slump for more than a decade, with GDP, Today, the Bureau of Economic Analysis (BEA) released prototype annual estimates of gross domestic product (GDP) for Puerto Rico for 2012 to 2018. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. The prototype estimates showed that the Puerto Rico economy, as measured by inflation-adjusted (or “real”) GDP, expanded from 2012 to 2014, before turning down in 2015 and continuing to decrease through 2018. Definition: This entry shows where production takes place in an economy. Details. Puerto Rico has one of the most dynamic economies in the Caribbean region, however, growth has been negative for the past four years, and unemployment rose to nearly 16% in 2011. GDP - composition by sector: agriculture: 1% industry: 45% services: 54% (2002 est.) Puerto Rico Jump to. October 15, 2020. Current employment state 2.6. The San Juan-Caguas area is the largest of the island’s seven metropolitan areas, representing roughly 75 percent of the island’s economy. In 1940, agriculture represented 33.7 percent of total net income, while manufacturing had 12.8 percent of the total. The GDP value of Puerto Rico represents 0.09 percent of the world economy. New, Everything you need to know about the industry development, Find studies from all around the internet. This page provides - Puerto Rico GDP … Learn more about how Statista can support your business. Puerto Rico gdp per capita for 2018 was $31,622, a 1.65% increase from 2017. Puerto Rico has changed from an agricultural economy, based primarily on sugar, tobacco, and coffee products, to a thriving modern industrial and services oriented economy. In Puerto Rico, the biggest economic sector is manufacturing, which represents around 45% of the GDP. Puerto Rico gdp per capita for 2016 was $30,627, a 2.9% increase from 2015. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. Please create an employee account to be able to mark statistics as favorites. Puerto Rico - Puerto Rico - The economy: Puerto Rico’s economy, now based on services and manufacturing, was dominated by agriculture until the mid-20th century. Current investment climate 2.5. You only have access to basic statistics. Try our corporate solution for free! Puerto Rico gdp per capita for 2019 was $32,874, a 3.96% increase from 2018. GDP: Gross domestic product (million current US$) 2000: 69208 : GDP: Growth rate at constant 1990 prices (annual %) 2008: 0.2 : GDP: Growth rate at constant 1990 prices (annual %) 2005 –0.2 : GDP: Growth rate at constant 1990 prices (annual %) 2000: 6.3 : GDP per capita (current US$) 2008: 24582.8 : GDP per capita … Puerto Rico manufacturing output for 2016 was $50.54B, a 2.07% increase from 2015. License : CC BY-4.0 Corporate solution including all features. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods. Agriculture includes farming, fishing, and forestry. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook To make matters worse, Puerto Rico's unemployment rate is above 15%, more than double the 7.3% in the mainland, per the Bureau of Labor … Puerto Rico manufacturing output for 2017 was $50.42B, a 0.24% decline from 2016. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: The source does not provide any information regarding percentage points not adding up to or exceeding 100 percent. Register in seconds and access exclusive features. Household income or … Exports of goods and services was a key contributor to changes in real GDP over this period. Puerto Rico carries more debt per capita than any state in the United States. GDP > Composition by sector > Agriculture: The gross domestic product (GDP) or value of all final goods produced by the agricultural sector within a nation in a given year. Industry includes mining, manufacturing, energy production, and construction. … 2.1. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. It is calculated without making deductions for depreciation of … Puerto Rico manufacturing output for 2015 was $49.52B, a 3.43% … Please authenticate by going to "My account" → "Administration". Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. Accessed December 03, 2020. https://www.statista.com/statistics/397789/puerto-rico-gdp-distribution-across-economic-sectors/, World Bank. 2 Paseo La Princesa, San Juan, PR 00902 Phone: (787) 721-2400; Email: contact@tourism.pr.gov Puerto Rico Economy. Indicator Name Value; GDP (current US$) 101,495,811,266: Gross national expenditure (current US$) 81,277,716,789: ... Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. Population below poverty line: NA. This is due to the big presence of US pharmaceutical companies in Puerto Rico that produce many drugs and allied products (2/3 of the manufacturing production in Puerto Rico comes from pharma). Profit from additional features by authenticating your Admin account. (October 15, 2020). The industrial sector has surpassed agriculture as the primary locus of economic activity and income. Factbook > Countries > Puerto Rico > Economy. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Climate; GDP (current US$) Details. Puerto Rico: Value added in the agricultural sector as percent of GDP: For that indicator, we provide data for Puerto Rico from 1960 to 2018. GDP in Puerto Rico averaged 42.81 USD Billion from 1960 until … Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. $39 per month* and over 1 Mio. From 2012 to 2017, “real,” or inflation-adjusted, consumer spending for Puerto Rico contracted at an average annual rate of 1.8 percent, consistent with steady declines in the population over this time period. Puerto Rico gdp per capita for 2017 was $31,109, a 1.57% increase from 2016. Chart 1 shows the year-by-year decline in real consumer spending and population for Puerto Rico. In 2018, the services industry in Puerto Rico contributed with almost half of the value added to the country's gross domestic product (GDP). Are you interested in testing our corporate solutions? The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Access the latest politics analysis and economic growth summary through 2011 for Puerto Rico from The Economist Intelligence Unit GDP Annual Growth Rate in Puerto Rico averaged 3.34 percent from 1961 until 2019, reaching an all time high of 13.80 percent in 1971 and a record low of -4.30 percent in 2018. The Government of Puerto Rico assists with the census. Overview Geography People Government Economy Communications Transportation Military ... GDP - per capita: purchasing power parity - $16,800 (2003 est.) The latest value from 2018 is 0.78 … Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP. Moreover, recurrent earthquakes pose … Because of our existing base, Puerto Rico has ramped up processes very quickly – tapping into a talented workforce of 90,000 manufacturing employees. The United States Code, Title 13, authorizes this census and makes responding mandatory. Puerto Rico's GDP decreased by 2% in 2019. In, World Bank. Then you will be able to mark statistics as favourites and use personal statistics alerts. The Commonwealth of Puerto Rico has a population of around 3.3 million. Population, total. Life expectancy at birth, total (years) Industrial production outlook 2.3. Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. CO2 emissions (metric tons per capita) Details. "Puerto Rico: Distribution of Gross Domestic Product (Gdp) across Economic Sectors from 2008 to 2018. Puerto Rico Economic Growth The economy is set to recover mildly in FY 2021 (July 2020–June 2021), as growth is not expected until the second half of the year due to lingering uncertainty over the evolution of the pandemic and its associated measures weighing on activity. World Bank. Then you can access your favorite statistics via the star in the header. Mainland US firms have invested heavily in Puerto Rico … Directly accessible data for 170 industries from 50 countries Puerto Rico : GDP Composition Breakdown. Gross domestic product (GDP) in current U.S. dollars in Puerto Rico 2021, Median age of the population in Puerto Rico 2015, Gross domestic product (GDP) growth rate in Puerto Rico 2021. facts. Puerto Rico has a highly educated and skilled workforce and is considered a customs territory of the US making it possible for the companies from the US to establish in Puerto Rico. Facts and statistics about the GDP - composition by sector of Puerto Rico. Please do not hesitate to contact me. Country’s Gross Domestic Product (GDP): historical trends and projection 2.2. (billed annually). Manufacturing sector is the major contributor to the gross domestic product. The last time the UN published such standards was 2008. ", World Bank, Puerto Rico: Distribution of gross domestic product (GDP) across economic sectors from 2008 to 2018 Statista, https://www.statista.com/statistics/397789/puerto-rico-gdp-distribution-across-economic-sectors/ (last visited December 03, 2020), Puerto Rico: Distribution of gross domestic product (GDP) across economic sectors from 2008 to 2018, Crude birth rate in Puerto Rico 2008-2018, Life expectancy at birth in Puerto Rico 2018, Gross domestic product (GDP) per capita in current U.S. dollars in Puerto Rico 2024, Distribution of gross domestic product (GDP) across economic sectors Puerto Rico 2018, Youth unemployment rate in Puerto Rico in 2020, Import of goods and services to Puerto Rico 2018, Global distribution of gross domestic product (GDP) across economic sectors 2018, Distribution of gross domestic product (GDP) across economic sectors Lesotho 2019, U.S. coffee production value in Hawaii and Puerto Rico 2000-2019, Price for coffee from Hawaii and Puerto Rico 2000-2019, Petroleum exports from the U.S. to U.S. Virgin Islands and Puerto Rico, Cesarean delivery percentage in Puerto Rico by ethnicity 2018, Guyana: population-weighted ozone pollution 2000-2017, Customer service robots - unit shipments in Latin America 2016-2022, Telecom Argentina: internet services revenue 2017-2019, Colombia: number of gynecologists 2011-2017, Forestry in China: afforestation area 2013, by region, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Puerto Rico is ranked as Caribbeans high-income economy and Latin Americas most competitive economy. The economy is considered highly vulnerable to changes in the world economies due to the dependence on imported goods such a… The Gross Domestic Product (GDP) in Puerto Rico was worth 104.99 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. PUERTO RICO: FINANCIAL AND ECONOMIC PROFILE. Puerto Rico manufacturing output for 2018 was $47.83B, a 5.13% decline from 2017. Chart. However, the harbour at San Juan prospered as a major … Updated as of 2019. In FY 2013 this sector generated $47,996.8 million or 46.5% of the gross domestic product. Puerto Rico: Distribution of gross domestic product (GDP) across economic sectors from 2008 to 2018 [Graph]. Poverty headcount ratio at national poverty lines (% of population) Details. Prior to the 2008, standards were published in 1968 and 1993. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP. Under Spanish colonial rule the island was largely neglected because of its limited mineral resources. Labor market overview. This feature is limited to our corporate solutions. The average value for Puerto Rico during that period was 2.16 percent with a minimum of 0.48 percent in 2007 and a maximum of 9.69 percent in 1960. Domestic credit to private sector (% of GDP) - Puerto Rico International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates. 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