Puerto Rico Economic information

Puerto Rico is a free associated territory of the United States. Therefore, Puerto Rico's economy is based on a free market economy with transactions using the US dollar. Puerto Rico's economy is based on various sectors, including manufacturing, tourism, finance, services, and trade. The manufacturing sector is one of the largest components of Puerto Rico's economy. The country plays an important role in the production of products such as pharmaceutical products, electronic goods, medical devices and textiles. This sector provides high value-added business opportunities to Puerto Rico. Tourism is also an important sector for Puerto Rico's economy. The country is a popular destination for tourists with its beautiful beaches, historical and cultural heritage, natural beauties and unique gastronomy. Tourism creates jobs and generates international income through hospitality, restaurants, entertainment and other tourist activities. The financial sector is another important component of Puerto Rico's economy. The country is home to major banks as well as insurance companies. Financial services are an important resource for Puerto Rico's ability to attract foreign investment and domestic entrepreneurship. Puerto Rico also has economic difficulties. The country struggles with a high unemployment rate, low income levels and a large public debt. In addition, Hurricane Maria in 2017 seriously affected the country's infrastructure and economy. As a result, Puerto Rico's economy is based on various sectors such as manufacturing, tourism, finance, services, and trade. However, the country also has economic difficulties and various measures are being taken to cope with these problems.