Abstract
Puerto Rico’s high manufacturing share of GDP, at 45.6% in 2023, reflects its specialized economy, with significant contributions from pharmaceuticals, electronics, and biotechnology. Historically, Puerto Rico’s manufacturing sector grew substantially after the 1940s, driven by U.S. tax incentives under Operation Bootstrap. This transformed Puerto Rico into a major manufacturing hub. However, in recent decades, manufacturing’s share has fluctuated, influenced by changes in U.S. policy and global economic shifts. Despite challenges, it remains a cornerstone of Puerto Rico’s economy.
Manufacturing as a percentage of GDP
Puerto Rico’s manufacturing sector reached its peak in 2016, with manufacturing, agriculture, and related sectors contributing 48.4% to its GDP. This surge was driven by a focus on high-value industries such as pharmaceuticals, electronics, and biotechnology, alongside U.S. tax incentives. Since 2016, Puerto Rico’s manufacturing share has decreased slightly, but it remains robust, accounting for 94.1% of its peak in 2023. Globally, manufacturing’s share of GDP has generally declined, while services and technology sectors have expanded. Puerto Rico’s high manufacturing ratio remains exceptional in the global context.
The maximum is 48.4%[2016] of Puerto Rico, and the current value is about 94.1%
Manufacturing industry, GDP ratio (worldwide)
Puerto Rico’s manufacturing share of GDP peaked in 2016 at 48.4%, reflecting a strong reliance on high-value industries like pharmaceuticals, electronics, and biotechnology. This rise was fueled by tax incentives under U.S. policies and investments in advanced sectors. Since 2016, Puerto Rico’s manufacturing share has decreased slightly, but it remains a key part of its economy, reaching 94.1% of its peak in 2023. Globally, manufacturing’s share of GDP has generally declined over time as services and technology-driven sectors have gained prominence, with Puerto Rico standing out for its continued industrial strength.
The maximum is 48.4%[2016] of Puerto Rico, and the current value is about 94.1%
Manufacturing industry, GDP ratio (worldwide, latest year)
In 2023, Puerto Rico leads globally with a manufacturing share of 45.6% of GDP, far surpassing the global average of 12.7%. This high manufacturing ratio reflects Puerto Rico’s economic focus on advanced industries such as pharmaceuticals, electronics, and biotechnology, fueled by U.S. tax incentives and a specialized workforce. Over the past few decades, Puerto Rico has maintained a significant manufacturing presence, even as global trends show a shift towards services and technology-driven economies. Despite challenges, Puerto Rico’s manufacturing sector remains a cornerstone of its economy.
The maximum is 45.6% of Puerto Rico, the average is 12.7%, and the total is 1.6k%
Manufacturing, GDP ratio (region, latest year)
In 2023, East Asia and the Pacific recorded the highest ratio of manufacturing to GDP in agriculture, forestry, and fisheries at 25.3%, significantly above the global average of 15.1%. This reflects the region’s strong industrialization, with key sectors like agriculture processing, seafood production, and forestry products contributing to economic growth. Over recent decades, East Asia has seen rapid urbanization and technological advancements, shifting economies from traditional agriculture to more manufacturing-driven models. Despite this transition, agriculture, forestry, and fisheries remain vital components of the region’s industrial base.
The maximum is 15.3% of World, the average is 15.3%, and the total is 15.3%
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