Economic Paragraph

         Puerto Rico’s economy has been struggling recently with a GDP per capita at $36,779.06, as well as the other countries around it, with Bahamas at $35,896.51, compared to GDP per capita of the United States $82,769.41. However, it has shown signs of improvement. Since the beginning of Puerto Rico, the country has been fighting for independence, therefore making it lightly socialist. The island’s economy has been dependent on tourism, manufacturing, and federal aid from the United States. Puerto Rico's economy, now based on services and manufacturing, was dominated by agriculture until the mid-20th century, when under Spanish colonial rule the island was largely neglected because of its limited mineral resources. For example, some large companies from Puerto Rico are, Eli Lilly and Company (A pharmaceutical company in Carolina), Amgen (A pharmaceutical company in Junco), as well as Popular, Inc. (A financial services company in Hato Rey). This leads us to the topic of Puerto Rico’s largest imports and exports. Puerto Rico’s exports of goods and services is around  53.9%, with 3 major exports, pharmaceuticals, medical devices, and electronics. Puerto Rico’s imports of goods and services is around  -47.8%  as well as 3 major imports, food, machinery, and coal. Puerto Rico’s major issues are poverty, unemployment and much more, mostly stemming from one common cause, the huge income gap between the wealthy and the poor. This means that even though Puerto Rico’s GDP per capita is not considered small, the majority of people are still struggling. In all, Puerto Rico’s economy is struggling, however, it is steadily improving and has hope for a better future.

Infographic on Socioeconomic