Puerto Rico: Visió econòmica i política
Puerto Rico's economy is mixed and heavily reliant on manufacturing, services, and tourism. The island is a major producer of pharmaceuticals, medical devices, and chemicals, with a strong presence in the global market. The U.S. territory benefits from favourable tax incentives for businesses, but it faces challenges such as high public debt, reliance on imports, and vulnerability to natural disasters. Puerto Rico's economy grew by 2.1% in fiscal year 2024, driven by strong consumption and trade. Looking ahead, the island’s economy is expected to experience moderate growth in the next two fiscal years. According to the latest projections from the Planning Board, Puerto Rico's gross national product (GNP) is anticipated to increase by 1.1% in fiscal year 2025 and by 0.5% in fiscal year 2026.
Concerning public finances, in 2024, the general government gross debt was estimated at 17.7% of GDP by the IMF, with a slight uptick expected over the forecast horizon (18.7% by 2025). To date, Puerto Rico continues to deal with the aftermath of its debt crisis, which began in 2014 when the island's public debt surpassed USD 70 billion. The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) was enacted in 2016, creating the Financial Oversight and Management Board (FOMB) to oversee financial restructuring. By 2022, a federal court approved a debt adjustment plan that reduced Puerto Rico's debt by 80%, bringing it down to around USD 37 billion, saving the island over USD 50 billion in debt service payments. Despite these efforts, challenges remain. In early 2024, the FOMB warned that the Puerto Rico Electric Power Authority's bonds could be worthless, as there might be insufficient funds to repay over USD 11 billion in debt. The island also continues to face issues with its energy infrastructure, including frequent power outages and a fragile grid system. The debt crisis has contributed to a population decline of more than 10% from 2010 to 2020, as many residents left for better opportunities. The monetary policy measures imposed by the United States Federal Reserve aim to increase the benchmark interest rate or cost of money to control credit and, in turn, curb inflation. According to the IMF estimates, inflation stood at 2.2% in 2024, after peaking at 6.1% in 2022. It is expected to decrease marginally to 2% in 2025.
Labour force participation remains low, with only around 40% of individuals of working age being employed. However, the unemployment rate has reached a historic low of 5.4% in 2024 (official governmental data). Furthermore, although the number of individuals leaving the island has decreased (Puerto Rico experienced a net loss of 0.4%, or 14,422 people, in 2023 compared to a loss of 1.3%, or 42,580 people, in 2022), the birth rate has declined and the death rate has risen. Nonetheless, the population continues to decline at a slower pace. With the destruction of nearly half a million homes after Hurricane Maria and increased unemployment brought on by the pandemic, nearly half of the population still lives below the poverty line. The island has also been dealing with a wave of violence and crime, primarily linked to gang activity and drug trafficking.
| Main Indicators | 2023 (E) | 2024 (E) | 2025 (E) | 2026 (E) | 2027 (E) |
| GDP (billions USD) | 117.90 | 120.97 | 122.23 | 124.29 | 128.07 |
| GDP (Constant Prices, Annual % Change) | 0.6 | 1.0 | -0.8 | -0.1 | 1.0 |
| GDP per Capita (USD) | 36,779 | 37,926 | 38,515 | 39,360 | 40,758 |
| General Government Gross Debt (in % of GDP) | 16.7 | 17.7 | 18.8 | 19.6 | 20.3 |
| Inflation Rate (%) | 3.5 | 1.6 | 1.9 | 1.8 | 2.0 |
| Unemployment Rate (% of the Labour Force) | 5.9 | 6.2 | 6.5 | 6.1 | 5.9 |
| Current Account (billions USD) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current Account (in % of GDP) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Source: IMF – World Economic Outlook Database, October 2021
Puerto Rico has very limited natural resources, with arable land being one of the country's most important assets. However, despite its significance, only 5.7% of the island's total area is considered arable. Overall, agriculture accounts for just 0.7% of Puerto Rico's GDP and employs 1% of the labour force. Puerto Rican agriculture produces sugar cane, coffee, pineapple, plantains, animal products, and chickens, among other goods. Puerto Rico faces challenges in fully utilizing its agricultural potential, mainly due to the scarcity of people willing to work in the agricultural sector. Consequently, the island imports about 85% of its food needs, despite having fertile land. Additionally, the country is prone to natural disasters, which impact its agricultural production.
Industry constitutes 49.1% of GDP and employs 12% of the working-age population. Generally, the country's industry has transitioned from labour-intensive industrial production (food industry, tobacco, copper, and textiles) to a capital-based service industry. Puerto Rico produces a diverse array of goods, including textiles, processed food, electronics, supplements and vitamins, medical supplies, and various other products. The pharma sector is also pivotal and is expected to continue growing, with revenue projected to surpass USD 376 million in 2025, according to Statista, with oncology drugs representing the largest market segment. Manufacturing is estimated to contribute to 46% of GDP, according to the World Bank.
The service industry encompasses sectors such as tourism, finance, insurance, trade, real estate, transportation, and utilities. Services represent the second-largest share of the Puerto Rican economy, contributing to 50.6% of GDP and employing 87% of the labour force. The sectors with the highest average employment are retail trade (130,191), public administration (122,005), and health and social assistance services (96,636), according to data from the National Statistical Institute as of 2023. In 2024, the territory welcomed over 6.6 million international passengers, marking a year-over-year increase of 6.6%.
| Breakdown of Economic Activity By Sector | Agriculture | Industry | Services |
| Employment By Sector (in % of Total Employment) | 2.1 | 19.0 | 79.0 |
| Value Added (in % of GDP) | 0.7 | 50.0 | 50.6 |
Source: International Labour Organization, ILOSTAT database, ; World Bank, Latest Available Data. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2025
