Puerto Rico Economy

Economic growth:

The economy recorded an average annual decrease of 0.9% in the decade to 2022. To read more about GDP growth in Puerto Rico, go to our dedicated page.

Unemployment:

The unemployment rate averaged 10.7% in the decade to 2022. For more information on Puerto Rico's unemployment click here.

Inflation:

Inflation averaged 1.3% in the decade to 2023. Go to our Puerto Rico inflation page for extra insight.

Annual GDP growth is expected to have decelerated in H2 FY 2024 (January–June 2024) from H1. Available data points in this direction: Average economic activity fell 0.2% year on year in H2, deteriorating markedly from the 3.5% expansion in July–December 2023. The slowdown in H2 FY 2024 was likely due to downbeat private spending; slower growth in employment and persistent inflation likely dented household consumption. On the other hand, the tourism sector should have provided support, as hotel stays rose at a faster annual pace in January–June on average than in H1. Over FY 2024 as a whole, economic activity growth was 1.7% (FY 2023: +2.4%). Turning to H1 FY 2025, recent economic weakness may be bottoming out: In July, economic activity contracted at the slowest pace in four months, with both electricity generation and cement sales improving.

Projections out to 2034.

16 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 6 expert analysts.

Want to get insight on the economic outlook for Puerto Rico in the coming years? FocusEconomics collects projections out to 2034 on 16 economic indicators for Puerto Rico from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Puerto Rico economy. To download a sample report on the Puerto Rico's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.