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Manufacturing in Puerto Rico is the largest economic sector in the economy of Puerto Rico; composing almost half (about 46%) of the gross domestic product (GDP) of Puerto Rico. All manufacturers in Puerto Rico are in some way interconnected with the Puerto Rico Industrial Development Company (PRIDCO) which provides substantial incentives for ...
The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
Don Q Añejo, a barrel-aged rum. Rum (ron in Spanish) production has been an important part of Puerto Rico's economy since the 16th century. While sugar cane harvesting has virtually disappeared in Puerto Rico (except for a few isolated farms and agricultural experiments), distilleries around the island still produce large amounts of rum every year.
In 2012, there were 13,159 farms in Puerto Rico. [9] While not a state, Puerto Rico is a member of the Southern United States Trade Association, a non-profit organization that assists the agriculture industry in developing its exports. [10] In early 2020, farm owners in Ponce reported on the continuing challenge of finding laborers. [11]
The pharmaceutical industry in Puerto Rico encompasses more than half of all manufacturing done in Puerto Rico.As the island's most prominent industry, pharmaceutics generates more than 18,000 jobs, pays more than US$3 billion in taxes, comprises about half of total exports, and has generated more than 25% of the island's GDP for the past four decades. [1]
Some products that have "American" as part of their names or slogans actually do very little assembling — if any — in the U.S. Here is a rundown of popular so-called American brands that ...
Location of Puerto Rico. Puerto Rico is an unincorporated territory of the United States located in the northeast Caribbean Sea. It is an archipelago that includes the main island of Puerto Rico and a number of smaller ones such as Mona, Culebra, and Vieques. The capital and most populous city is San Juan.
Since the 1960s Cuban revolution, Bacardi has had its headquarters in Bermuda, but produces most of its rum in Puerto Rico at the Cathedral of Rum. [citation needed] By the 1960s, Don Q was available on most of Puerto Rico's important supermarket chains, such as Pueblo and others. It also became available at Amigo. [16]