Puerto Rico - Economy
How is the economy of Puerto Rico? Based on the information we have, Puerto Rico has a US Caribbean island territorial economy; hit hard by COVID-19 and hurricanes; declining labor force and job growth after a decade of continuous recession; capital-based industry and tourism; high poverty; energy import-dependent. Key agricultural products in this country include: milk, plantains, bananas, chicken, tomatoes, mangoes/guavas, eggs, oranges, pumpkins/squash, papayas (2022).
More about the economy of Puerto Rico
Labor force 1.154 million (2023 est.)
Industrial production growth rate 4.3% (2014 est.)
Industries pharmaceuticals, electronics, apparel, food products, tourism
Population below poverty line
Taxes and other revenues 8.9% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Current account balance
Current account balance 2017 $0 (2017 est.)
Current account balance 2016 $0 (2016 est.)
Public debt
Public debt 2017 51.6% of GDP (2017 est.)
Budget
Revenues $9.268 billion (2017 est.)
Expenditures $9.974 billion (2017 est.)
Budget surplus (+) or deficit (-)
Imports
Imports 2022 $51.509 billion (2022 est.)
Imports 2021 $45.052 billion (2021 est.)
Imports 2020 $44.513 billion (2020 est.)
Imports (partners) Ireland 38%, Singapore 9%, Switzerland 8%, South Korea 5% (2019)
Comodities Imports force nitrogen compounds, sulfur compounds, refined petroleum, medical cultures/vaccines, cars (2019)
Exports
Imports 2022 $51.509 billion (2022 est.)
Imports 2021 $45.052 billion (2021 est.)
Imports 2020 $44.513 billion (2020 est.)
Exports (partners) Italy 15%, Netherlands 15%, Belgium 9%, Japan 8%, Germany 8%, Austria 8%, Spain 7%, China 5% (2019)
Comodities Exports force packaged medicines, medical cultures/vaccines, hormones, orthopedic and medical appliances, sulfur compounds (2019)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $137.828 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $137.056 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $132.334 billion (2021 est.)
GDP (official exchange rate) $117.902 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $43,000 (2023 est.)
Real GDP per capita 2022 $42,600 (2022 est.)
Real GDP per capita 2021 $40,600 (2021 est.)
GDP - composition, by sector of origin
Agriculture 0.7% (2023 est.)
Industry 49.1% (2023 est.)
Services 50.6% (2023 est.)
GDP - composition, by end use
Household consumption 80% (2023 est.)
Government consumption 7.1% (2023 est.)
Investment in fixed capital 13.7% (2023 est.)
Investment in inventories 0.5% (2023 est.)
Exports of goods and services 53.9% (2023 est.)
Imports of goods and services -47.8% (2023 est.)
Unemployment rate
Unemployment rate 2023 5.96% (2023 est.)
Unemployment rate 2022 6% (2022 est.)
Unemployment rate 2021 7.9% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 13.7% (2023 est.)
Male 14.9% (2023 est.)
Female 10.5% (2023 est.)
All Important Facts about Puerto Rico

Want to know more about Puerto Rico? Check all different factbooks for Puerto Rico below.

Puerto Rico is found in Caribbean