Diplomatic representation: none (commonwealth associated with the US)
Flag: five equal horizontal bands of red (top and bottom) alternating with white; a blue isosceles triangle based on the hoist side bears a large white five-pointed star in the center; design based on the US flag
- Economy Overview: Puerto Rico has one of the most dynamic economies in the Caribbean region. Industry has surpassed agriculture as the primary sector of economic activity and income. Encouraged by duty-free access to the US and by tax incentives, US firms have invested heavily in Puerto Rico since the 1970s. Important new industries include pharmaceuticals, electronics, textiles, petrochemicals, and processed foods. Sugar production has lost out to dairy production and other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income for the island.
GNP: $18.4 billion, per capita $5,574; real growth rate 4.9% (FY88)
Inflation rate (consumer prices): 33% (December 1987-88)
Unemployment rate: 12.8% (December 1988)
Budget: revenues $4.9 million; expenditures $4.9 million, including capital expenditures of $NA (FY88)
Exports: $13.2 billion (f.o.b., FY88); commodities—sugar, coffee, petroleum products, chemical, metal products, textiles, electronic equipment; partners—US 87%
Imports: $11.8 billion (c.i.f., FY88); commodities—chemicals, clothing, food, fish products, crude oil; partners—US 60%
External debt: $NA