Region:
Central America
and the Caribbean
Capital:
San Juan
Population:
3,897,960 (July
2004 est.)
Surface
Area:
9,104 sq km
Currency:
US dollar (USD)
GDP
per capita:
Purchasing Power
Parity - $16,800
(2003 est.)
Background:
Populated for
centuries by
aboriginal peoples,
the island was
claimed by the
Spanish Crown
in 1493 following
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
to retain commonwealth
status.
Economy
– Overview:
Puerto Rico has
one of the most
dynamic economies
in the Caribbean
region. A diverse
industrial sector
has far surpassed
agriculture as
the primary locus
of economic activity
and income. Encouraged
by duty-free
access to the
US and by tax
incentives, US
firms have invested
heavily in Puerto
Rico since the
1950s. US minimum
wage laws apply.
Sugar production
has lost out
to dairy production
and other livestock
products as the
main source of
income in the
agricultural
sector. Tourism
has traditionally
been an important
source of income,
with estimated
arrivals of nearly
5 million tourists
in 1999. Growth
fell off in 2001-03,
largely due to
the slowdown
in the US economy.
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