Populated for centuries by aboriginal peoples, the island was claimed by the Spanish Crown in 1493 following Christopher COLUMBUS' second voyage to the Americas. In 1898, after 400 years of colonial rule that saw the indigenous population nearly exterminated and African slave labor introduced, Puerto Rico was ceded to the US as a result of the Spanish-American War. Puerto Ricans were granted US citizenship in 1917. Popularly elected governors have served since 1948. In 1952, a constitution was enacted providing for internal self-government. In plebiscites held in 1967, 1993, and 1998, voters chose not to alter the existing political status with the US, but the results of a 2012 vote left open the possibility of American statehood. Economic recession on the island has led to a net population loss since about 2005, as large numbers of residents moved to the US mainland. The trend has accelerated since 2010; in 2014, Puerto Rico experienced a net population loss to the mainland of 64,000, more than double the net loss of 26,000 in 2010.
Location
Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, east of the Dominican Republic
Natural Resources
some copper and nickel; potential for onshore and offshore oil
Population - distribution
population clusters tend to be found along the coast, the largest of these is found in and around San Juan; an exception to this is a sizeable population located in the interior of the island immediately south of the capital around Caguas; most of the interior, particularly in the western half of the island, is dominated by the Cordillera Central mountains, where population density is low
SAN JUAN (capital) 2.463 million (2015)
- Conventional long form
- Commonwealth of Puerto Rico
- Conventional short form
- Puerto Rico
- Local long form
- Local short form
presidential democracy; a self-governing commonwealth in political association with the US
- Name
- San Juan
- Geographic coordinates
- 18 28 N, 66 07 W
- Time difference
- UTC-4 (1 hour ahead of Washington, DC, during Standard Time)
Puerto Rico had one of the most dynamic economies in the Caribbean region until 2006; however, growth has been negative for each of the last 11 years. The downturn coincided with the phaseout of tax preferences that had led US firms to invest heavily in the Commonwealth since the 1950s, and a steep rise in the price of oil, which generates most of the island's electricity.
- Inflation
- None%
- Total tax rate (% of commercial profits)
- None%
- Real Interest Rate
- None%
- Manufacturing, value added (% of GDP)
- None%
- Current Account Balance
- US$
- Labor Force, Total
- Employment in Agriculture
- %
- Employment in Industry
- %
- Employment in Services
- %
- Unemployment Rate
- %
- Imports of goods and services
- US$
- Exports of goods and services
- US$
- Total Merchandise Trade
- %
- FDI, net inflows
- US$
- Commercial Service Exports
- US$
sugarcane, coffee, pineapples, plantains, bananas; livestock products, chickens
pharmaceuticals, electronics, apparel, food products, tourism
- Commodities
- chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment
- Partners
- Commodities
- chemicals, machinery and equipment, clothing, food, fish, petroleum products
- Partners
- Country Risk Rating
- Business Climate Rating