Puerto Rico’s Trade and Industries
Manufacturing of various goods wherein raw materials are used to produce finished products is one of Puerto Rico's major industries and accounts for approximately 40% of its GDP. Being part of the United States and one of the Caribbean Islands, Puerto Rico's biggest industry is still tourism and services related thereto. Agriculture also plays a small role in the country’s overall annual output. Vegetables, tobacco, coffee, pineapples and other citrus fruits are commercially grown and the main livestock is poultry, cattle and pigs.
It is widely agreed that Puerto Rico’s economy is one of the most vibrant in the world. Agriculture has long since been overtaken by a huge variety of industrial exports. Because Puerto Rico is part of the US and is therefore under the same trade and labor laws, it has been highly invested in by many US companies since the 1950’s.
It’s estimated that Puerto Rico makes some 15% of the world’s pharmaceuticals. Other exports include manufactured goods, clothing, chemicals, machinery (electronic), refined petroleum and other by products as well as scientific equipment. The USA accounts for over 80% of Puerto Rico’s exports and is thus its chief trading partner.
Last updated: November 1, 2018