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Economysocial Puerto Rico 932000
- 1. Introduction to Economic Aspect of Puerto Rico Brought to you by these fine folks: Patti Rodriguez Mike Camacho Carissa Pangelinan JoesphTenorio
- 2. Economy transformed after WWII (1939-1945)
- 4. less dependent on agriculture
- 6. less dependent on agriculture
- 8. less dependent on agriculture
- 10. attract industries that would import goods to the islands to be finished for export
- 12. After rising steadily for years, the Gross Domestic Product and total employment dropped in 1975.
- 14. Tax-free access to US markets
- 16. Unemployment rate 12% (2002)
- 17. Population below poverty line 40% (2008)
- 18. GDP by composition (2002)
- 20. Export Partners
- 22. Import Partners
- 23. Introduction to the SOCIAL ASPECTof Puerto Rico BY Patti Rodriguez Mike Camacho Carissa Pangelinan JoesphTenorio
- 27. Life expectancy Puerto Rico (2008) 74.7 years males 82.8 years females U.S.(2008) 75.3 years males 81.0 years females
- 29. In search of better economic opportunities
- 31. Most schools are public & modeled on US public schools
Hinweis der Redaktion
- Economy transformed after WWII (1939-1945) 1) leaders decided to emphasize industrial development a. to make the island less dependent on agriculture b. increase employment opportunities
- with help of US government the P.R govt. established “Operation Bootstrap” (1947) a. a program of governmental support for industry through tax breaks b. govt. hoped to attract industries that would import goods to the islands to be finished for exportSUCCESSbrought many industrial companies to Puerto Ricocreated 1,000s of jobsunderdeveloped island an industrialized area & important overseas market for US
- By 1965, P.R. enjoyed the highest per capita income (avg. individual income) in Latin America. a. economic improvements were visible everywhere in forms of: - housing - public buildings - service facilities - new improved reads and communications -modern factories
- After rising steadily for years, the Gross Domestic Product (GDP, total value of goods & industries Produced in Puerto Rico) and total employment dropped in 1975. a. however, even during the boom years, unemployment remained high (ranging fromo 10-13% Of labor force b. By mid-1970s, the official unemployment rate had reached 20 percent
- By mid-1980s, the island’s economy began to recover 1) benefited when US increased its investment to the region through the Caribbean Basin Initiative a. a program providing tax-free access to US markets for certain products from the Caribbean Region
- However in 1996 the US Congress voted to eliminate over a 10-yr period the tax incentives for for American companies invested in businesses in Puerto Rico 3) In response, local officials sought to further develop the service industry, esp. tourism
- Unemployment rate 12% (2002)GDP by composition (2002)Agriculture: 1%Industry: 45%Services: 54%Population below poverty line 40% (2008)
- Unemployment rate 12% (2002)GDP by composition (2002)Agriculture: 1%Industry: 45%Services: 54%Population below poverty line 40% (2008)
- Unemployment rate 12% (2002)GDP by composition (2002)Agriculture: 1%Industry: 45%Services: 54%Population below poverty line 40% (2008)
- EXPORT COMMODITIESChemicalsElectronicsApparelCanned tunaRumBeverage concentratesMedical equipment
- Export PartnersUS 90.3%UK 1.6%Netherlands 1.4%Dominican Republic 1.4%
- IMPORT COMMODITIESChemicalsMachinery & equipmentClothingFoodFishPetroleum products
- Import PartnersUS 55.0%Ireland 23.7%Japan 5.4%
- By the early 21st century, Puerto Ricans has increased social mobility and much greater opportunities because of universal access to education and a more developed economy.
- Current population is 3 million, 9 hundred 58 thousand, one-hundred 28.Puerto Rico’s rate of population increase has fluctuated considerably throughout its history,Based largely on how many Puerto Ricans has emigrated from the island to the mainland US.Generally they went to the mainland to seek better economic opportunities.
- While life expectancy rate in Puerto Rico have improved significantly in recent years.Puerto Rico still has lower rates then US.Could be attributed to high rates of poverty on the island (esp. rural areas) & a medical care system that has received little attention until late 20th century.
- In the late 1990s some 3.1 million Puerto Ricans lived on the US mainland, the majority of them in the statesOf New York, New Jersey, and Florida.In general Puerto Ricans went to the mainland in search of better economic opportunities.The migration of Puerto Ricans to the US has a created a puerto rican presence in the mainland nearly as large as the population of the island itself.
- Puerto Rico greatly improved its educational institutions throughout the 20th century. By 2005, 94.6% of the adult population was literate, compared with some 67% in 1940.Most of the schools in P.R. are public and are modeled on the public schools in continental US.About 20% of the schoolchildren attend private schools.