Puerto Rico - Country Code 1-787/939
IDD Code: 011
Country Code: 1-787/939
ISO: PR
ISO3: PRI
Helpful Information About Puerto Rico
Time
Monday, December 23, 2024
Capital: San Juan
Time Zone
UTC-04:00
Time Difference
San Juan, Puerto Rico is ()
Daylight Savings Time
Puerto Rico does not follow DST
Weather
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Country Flag
About Puerto Rico Country NamePuerto Rico
ContinentNorth America
Lat/Long18.22083300, -66.59014900
BackgroundPopulated 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.
Population3,578,056 (July 2016 est.)
LanguagesSpanish, English
ReligionsRoman Catholic 85%, Protestant and other 15%
Ethnic GroupsWhite 75.8%, black/African American 12.4%, other 8.5% (includes American Indian, Alaskan Native, Native Hawaiian, other Pacific Islander, and others), mixed 3.3%
Economy
EconomyPuerto Rico had one of the most dynamic economies in the Caribbean region until 2006; however, growth has been negative for each of the last ten 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.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 13.7% in December 2014. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about two-thirds that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures amounted to 0.6% of GDP in 2016, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP. Public debt declined to 92.5% of GDP in 2016, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors.
Diminished job opportunities prompted a sharp rise in outmigration, as many Puerto Ricans sought jobs on the US mainland. Unemployment reached 16% in 2011, but declined to 13.7% in December 2014. US minimum wage laws apply in Puerto Rico, hampering job expansion. Per capita income is about two-thirds that of the US mainland.
The industrial sector greatly exceeds agriculture as the locus of economic activity and income. Tourism has traditionally been an important source of income with estimated arrivals of more than 3.6 million tourists in 2008. Puerto Rico's merchandise trade surplus is exceptionally strong, with exports nearly 50% greater than imports, and its current account surplus about 10% of GDP.
Closing the budget deficit while restoring economic growth and employment remain the central concerns of the government. The gap between revenues and expenditures amounted to 0.6% of GDP in 2016, although analysts believe that not all expenditures have been accounted for in the budget and a better accounting of costs would yield an overall deficit of roughly 5% of GDP. Public debt declined to 92.5% of GDP in 2016, about $17,000 per person, or nearly three times the per capita debt of the State of Connecticut, the highest in the US. Much of that debt was issued by state-run schools and public corporations, including water and electric utilities. In June 2015, Governor Alejandro GARCIA Padilla announced that the island could not pay back at least $73 billion in debt and that it would seek a deal with its creditors.
GDP$100.9 billion (2016 est.)
CurrencyDollar
Communications
Internet TLD.pr
Internet Users2.86 million
Land Lines813,106
Mobile Phones3.205 million
Broadcast MediaMore than 30 TV stations operating; cable TV subscription services are available; roughly 125 radio stations (2007)