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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 ...
Puerto Rico remains a territory of the United States, exercising substantial internal self-government, but subordinated to the U.S. Constitution in areas such as foreign affairs or defense. For this reason, it is not considered to be a full-fledged associated state under either international or U.S. domestic law. [58] [59]
The following list includes the annual nominal gross domestic product for each of the 50 U.S. states and the national capital of Washington, D.C. and the GDP change and GDP per capita as of 2024. [1] [3] The total for the United States in this table excludes U.S. territories. The raw GDP data below is measured in millions of U.S. Dollars.
The Biden administration, and a chance to become fully recognized as a U.S. state, could help Puerto Rico restore a much-needed sense of normalcy after a rough stretch of years.
The Biden administration is designating 31 technology hubs touching 32 states and Puerto Rico to help spur innovation and create jobs in the industries that are concentrated in these areas.
Cuba is not included in the list due to lack of economic data. Of the countries listed, some are not independent: Aruba is a constituent country of the Kingdom of the Netherlands, and Puerto Rico is a United States territory with special status and thus is measured separately from the U.S. by the World Economic Outlook.
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 ...
View Article The post Puerto Rico groans under pandemic as health, economy suffer appeared first on TheGrio. Puerto Rico seemed to be sprinting toward herd immunity this spring before people began ...