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The economy of Puerto Rico is classified as a high-income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, which primarily includes pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate ...
On November 19, 1970, the Central Council of the PPD issued what became known as the Pronunciamiento de Aguas Buenas (lit. "Aguas Buenas Pronnouncement") which stated its support for a "complete self-government, founded in the free association with the United States and which permits and supports the country's cultural personality and the sustained development of its social and material progress."
The Puerto Rico Industrial Development Company (PRIDCO) —Spanish: Compañía de Fomento Industrial de Puerto Rico (or simply Fomento)— is a government-owned corporation of Puerto Rico authorized and empowered to induce private capital into Puerto Rico in order to establish trade, cooperatives, and industrial operations in Puerto Rico. [1]
This is a list of Puerto Rico locations by per capita income. In 2017, Puerto Rico had a per capita income of $12,081 — lower than any state and one of the lowest in the United States. [ 1 ] In 2017, Puerto Rico had a median household income of $19,775 — the lowest of any state or territory in the United States.
In 2012, there were 13,159 farms in Puerto Rico. [9] While not a state, Puerto Rico is a member of the Southern United States Trade Association, a non-profit organization that assists the agriculture industry in developing its exports. [10] In early 2020, farm owners in Ponce reported on the continuing challenge of finding laborers. [11]
Reforma de Salud de Puerto Rico (Puerto Rico Health Reform) – locally referred to as La Reforma ('The Reform') – is a government-run program which provides medical and health care services to the indigent and impoverished, by means of contracting private health insurance companies, rather than employing government-owned hospitals and ...
Clemente, a Puerto Rico native, died in a plane crash in December 1972 while en route to Nicaragua to deliver disaster relief to victims of an earthquake. [ 28 ] September 14 – A bipartisan group of Congressmen led by Darren Soto (D-FL) introduce a bill to recognize the results of the November 3 referendum on statehood.
By time the Great Depression arrived in 1929, working class Puerto Rican citizens, especially rural agricultural laborers, were already facing economic hardship. After Spain ceded sovereignty of Puerto Rico to the United States following the 1898 Spanish–American War the island increasingly became economically dependent on the United States through an unbalanced colonial trade relationship ...