Introduction to Economic Aspect of Puerto Rico

Brought to you by these fine folks:Patti RodriguezMike Camacho

Carissa PangelinanJoesph Tenorio

Economy transformed after WWII (1939-1945)

• emphasize industrial development• less dependent on agriculture• increase employment opportunities

• emphasize industrial development• less dependent on agriculture• increase employment opportunities

• emphasize industrial development• less dependent on agriculture• increase employment opportunities

• governmental support for industry through tax breaks

• attract industries that would import goods to the islands to be finished for export

• SUCCESS!

By 1965, P.R. enjoyed the highest per capita income (avg. individual income) in Latin America.

After rising steadily for years, the Gross

Domestic Product and total employment dropped in 1975.

By mid-1980s, the island’s economy began to recover

• Caribbean Basin Initiative– Tax-free access to US markets – For certain products from Caribbean

1996

US Congress voted to eliminate over a 10-yr period the tax incentives for American

companies that invested in business in Puerto Rico

Unemployment rate 12% (2002)

Population below poverty line 40% (2008)

GDP by composition (2002)

Export commodities

Export Partners

Import commodities

Import Partners

Introduction to the SOCIAL ASPECTof Puerto Rico

BYPatti RodriguezMike Camacho

Carissa PangelinanJoesph Tenorio

Early 21st century

• Increased social mobility • Much greater opportunities• Universal access to education & a more

developed economy

Population

3,958,128 (July 2008)

Life expectancyPuerto Rico (2008)

74.7 years males

82.8 years females

U.S.(2008)

75.3 years males

81.0 years females

Migration

• Late 1990s some 3.1 million lived on US mainland

• In search of better economic opportunities

• Created a Puerto Rican presence in the mainland nearly as large as population of island itself

Education

• By 2005, 94.6% of adult population was literate

• Most schools are public & modeled on US public schools

• 20% attend private schools

Thanks for listening!

We will continue on Wednesday with Economy & Social Aspect of

Puerto Rico…

See ya then!