Pharmaceutical and medical manufacturing is one of the most important components of the Puerto Rican economy. In the 2020 fiscal year, this sector received more than $30 billion in net income. Compared to 2019, net income for this sector increased by 0.03%. We can expect this total to decrease for FY2021 due to the recession...Read More
Exports originating in Puerto Rico totaled $3.343 billion in February of 2021, while imports reached $4.387 billion. Compared to the previous month of January, exports increased by $1.337 billion, or 43.9%, while imports increased by $136 million, or 4.2%. Compared to February 2020, exports have decreased by $1.285 billion, or 22.6%, while imports have decreased...Read More
The USDA has begun its preparations for the 2022 Census of Agriculture. This census is done every 5 years by the federal agency and is the most reliable source of information for county, state, and national level agricultural statistics. The last edition of this census was done in 2017. As such, this new census will...Read More
The seasonally adjusted house price index (HPI-SA) for Puerto Rico reached a score of 188.3 in the second quarter of 2021. This means that house prices are 88.3% higher in the island when compared to 1995, the base year of the index. When compared to the second quarter of 2020, the HPI-SA increased by 25.2...Read More
The consumer price index for June 2021 in Puerto Rico stood at 121.38. Compared to June 2020, the consumer price index rose by 2.7%. This large year over year increase is mostly due to deflation seen in 2020 due to the COVID-19 pandemic. Decreases in demand for many goods and services during the pandemic led...Read More
According to data from Southeast Aeroports Group (ASUR), in July, 1,118,931 passengers passed through the airport of San Juan. Passenger traffic is 91.2% higher in the first seven months of this year than in the same period last year, but 2.3% lower than in 2019. In July, traffic tripled compared to the previous year’s same...Read More
Retail sales for the month of March 2021 in Puerto Rico totaled $3.158 billion. Compared to the previous month of February, sales increased by $572 million, or 22.2%. When compared to March 2021, retail sales increased by $1.104 billion, or 53.8%. Our firm’s usual analysis methods rely on year over year comparisons as well as...Read More
Gross domestic fixed investment for the fiscal year of 2020 decreased 20.97%, according to the most recent Economic Report to the Governor from the fiscal year of 2020. The data for the 2020 fiscal year includes four months of the COVID-19 pandemic when consumption was restricted. Due to the pandemic, consumption in general decreased, and...Read More
New car sales in the month of June 2021 in Puerto Rico totaled 11,636. Compared to the previous month of May, new car sales decreased by 8.3% but managed to remain above 10,000 for the 9th consecutive month. When compared to June 2020, there has been an increase of 9.3%. When compared with June 2019,...Read More
As information from the 2020 census is released, there are several demographic concerns for the island of Puerto Rico. Aside from rapidly decreasing, the islands population has also been aging. Compared to 2015, the median age, which is the age where half the island’s population is older and half is younger, has increased from 40...Read More
