The economy of Puerto Rico is mainly driven by manufacturing, primarily pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, primarily finance, insurance, real estate, and tourism.

What products do Puerto Rico export?

Puerto Rico main exports products are pharmaceuticals, accounting for over 50 percent of all exports. Others include medical equipment, computers, apparel, canned tuna, rum, beverage and concentrates. Puerto Rico’s main exports partner is the United States, accounting for around 70 percent of total exports.

Is Puerto Rico poorer than Mexico?

Puerto Rico has a GDP per capita of $39,400 as of 2017, while in Mexico, the GDP per capita is $19,900 as of 2017.

What kind of products does Puerto Rico export?

Puerto Rico Exports. Puerto Rico main exports products are pharmaceuticals, accounting for over 50 percent of all exports. Others include medical equipment, computers, apparel, canned tuna, rum, beverage and concentrates.

What is the agriculture of Puerto Rico?

Agriculture in Puerto Rico, although not a major part of the nation’s GDP, still holds an important aspect of the island’s culture and history. A variety of crops are grown in Puerto Rico, including rice, sugar cane, coffee, and corn.

Is there a sales tax on exports to Puerto Rico?

As a U.S. territory, shipments to Puerto Rico are not considered exports so duties are not applied. There is, however, a state sales tax of 5.5% and a municipal sales tax that can vary from 0% to 1.5 percent.

What kind of economy does Puerto Rico have?

Shippers use these data to gauge Puerto Rico’s trade economy and goods produced there. The information is also used to help compile Puerto Rico’s Gross Domestic Product (GDP). The GDP is one of the most anticipated economic indicators and the primary measure of the nation’s economy.