economysocial puerto rico 932000
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Introduction to Economic Aspect of Puerto Rico
Brought to you by these fine folks:Patti RodriguezMike Camacho
Carissa PangelinanJoesph Tenorio
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Economy transformed after WWII (1939-1945)
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• emphasize industrial development• less dependent on agriculture• increase employment opportunities
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• emphasize industrial development• less dependent on agriculture• increase employment opportunities
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• emphasize industrial development• less dependent on agriculture• increase employment opportunities
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• governmental support for industry through tax breaks
• attract industries that would import goods to the islands to be finished for export
• SUCCESS!
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By 1965, P.R. enjoyed the highest per capita income (avg. individual income) in Latin America.
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After rising steadily for years, the Gross
Domestic Product and total employment dropped in 1975.
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By mid-1980s, the island’s economy began to recover
• Caribbean Basin Initiative– Tax-free access to US markets – For certain products from Caribbean
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1996
US Congress voted to eliminate over a 10-yr period the tax incentives for American
companies that invested in business in Puerto Rico
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Unemployment rate 12% (2002)
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Population below poverty line 40% (2008)
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GDP by composition (2002)
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Export commodities
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Export Partners
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Import commodities
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Import Partners
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Introduction to the SOCIAL ASPECTof Puerto Rico
BYPatti RodriguezMike Camacho
Carissa PangelinanJoesph Tenorio
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Early 21st century
• Increased social mobility • Much greater opportunities• Universal access to education & a more
developed economy
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Population
3,958,128 (July 2008)
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Life expectancyPuerto Rico (2008)
74.7 years males
82.8 years females
U.S.(2008)
75.3 years males
81.0 years females
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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
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Education
• By 2005, 94.6% of adult population was literate
• Most schools are public & modeled on US public schools
• 20% attend private schools
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Thanks for listening!
We will continue on Wednesday with Economy & Social Aspect of
Puerto Rico…
See ya then!