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Construction and Manufacturing Trends 2022/23

2 years ago

The economic landscape of Puerto Rico has witnessed notable shifts in the manufacturing and construction sectors, with significant changes observed in the numerical indicators. By examining the specific figures and their variations from one year to another, we can gain valuable insights into the performance of these industries and identify opportunities for future growth.

Within the manufacturing sector, there was a marginal decline in the Purchasing Managers General Index, from an average of 54.08 in 2022 to 53.73 in 2023. Although this dip may raise concerns, it is essential to consider the broader context in which these numbers emerge. The sector has demonstrated commendable resilience, recovering from the aftermath of previous challenges, such as natural disasters and economic downturns.

Diving deeper into the Purchasing Managers Index, we observe fluctuations in critical areas. New orders and production levels experienced a decline, with the average decreasing from 58 in 2022 to 49.13 in 2023. This shift highlights the manufacturing sector’s efforts to adapt to changing market dynamics and meet the demand amidst external disruptions. However, it is worth noting that despite these challenges, employment levels remained relatively stable, underscoring the sector’s contribution to overall economic stability.

As well as the PMI, other indicators within the manufacturing sector also exhibit intriguing trends. Backlogs and export orders witnessed a hefty decrease. The average backlog decreased from 50.08 in 2022 to 37.83 in 2023, indicating a shift in demand and potential challenges in meeting order fulfillment. Additionally, export orders declined, with the average dropping from 52.08 in 2022 to 44.25 in 2023. These variations reflect the changing international demand and supply chain disruptions, underscoring the need for adaptive strategies and diversification of markets.

Turning our attention to the construction sector, the numbers tell a different story. Cement production witnessed a significant increase, soaring from an average of 667.5 (94lb. bags) in 2022 to 785.42 in 2023. This remarkable growth signifies a robust recovery in the construction industry. Despite the challenges faced, such as fluctuations in market demand and labor shortages, the sector has managed to capitalize on opportunities for infrastructure development and post-disaster reconstruction efforts.

Although cement sales experienced a slight increase, with average sales of 94lb. bags and bulk increasing from 1,266.04 in 2022 to 1,273.48 in 2023, it is important to note the overall sustained demand for construction materials. The construction sector has shown resilience in navigating the changing landscape, adapting to safety measures, and continuing its vital contributions to the economy.

To chart a path for sustained growth in both sectors, it is crucial to leverage the observed trends and identify areas of opportunity. Strengthening supply chains, fostering innovation, and investing in skilled labor will be pivotal in driving the manufacturing sector forward. Additionally, the construction sector can explore avenues for sustainable development, focusing on renewable energy projects, modern infrastructure, and eco-friendly building practices.

In conclusion, the numerical analysis of the manufacturing and construction sectors in Puerto Rico reveals a nuanced picture. While the manufacturing sector experienced a marginal decline in certain indicators, it demonstrated resilience and adaptability. On the other hand, the construction sector has witnessed significant growth, driven by post-disaster reconstruction and ongoing development projects. By harnessing these trends and implementing targeted strategies, Puerto Rico can position itself for sustained economic prosperity and contribute to the well-being of its citizens.

The Second Highest Cement Sales and Production of 2022

3 years agoThe Second Highest Cement Sales and Production of 2022

The month of August saw an overall increase in both Cement Sales and Production with a total of 1,328.6 pounds sold and 789 pounds produced. These figures from Puerto Rico’s Economic Development Bank represent the highest of 2022, barring June of the same year. Compared to July 2022, Cement Sales saw a 19% increase (212.4 pounds); Production saw a 7% increase (50.2 pounds).

When contrasting said figures to previous years, Production and Sales are higher than those of 2021. Specifically, Sales saw a 6% (69.7 pounds) increase when compared to those of August 2021. Meanwhile, Production saw a 35% increase (204 pounds). August Sales are also higher than those of 2019 by 210.5 pounds.

This increase in Cement Sales and Production in the month of August could be attributed to maintenance and repairs in preparation for the upcoming Hurricane Season. Yet monthly increases and decreases of this nature are standard and should be no cause of concern. Following the Economic Development Bank’s figures August has historically been a month of Sales and Production increase. Overall, yearly Sales and Production statistics have remained relatively stable in the past years with slow upward trajectory.  

Retos y oportunidades en el mercado de la vivienda

3 years agoRetos y oportunidades en el mercado de la vivienda

Recientemente, tuve la oportunidad de entrevistar para mi programa de radio, “Pulso Económico” que transmite por WKAQ 580 am, a Rafa Rojo, ex presidente de la Asociación de Constructores de hogares. Dialogamos sobre los retos y las oportunidades que actualmente en el contexto de la subida de tasas de intereses, la posible recesión y los altos costos de los materiales de construcción. En paralelo, existe en una teoría de que el mercado de vivienda se esta enfriando.


Como contexto a la discusión radial expuse que, en el 2013, se vendieron cerca de 14,000 unidades de vivienda (nuevas y usadas) con un precio promedio de 181,000, y que el mercado de lujo hizo números históricos con transacciones millonarias en lugares como Dorado y Rio Grande. La inversión de los inversionistas bajo la Ley 60 se ha convertido en un importante factor en la economía y en el mercado de vivienda.


Para Rojo, existen oportunidades, pero hay que actuar de manera estratégica. En primer lugar, Puerto Rico se encuentra muy lejos de los números de ventas de la década del 1990 y principios del 2000, cuando en la Isla se producían y vendían cerca de 22,000 unidades de vivienda. De estas, 10,000 era vivienda existente y 12,000 nuevas. El mercado fue capaz de absorber esa oferta, hasta que la economía comenzó a experimentar problemas fiscales y económicos a partir del 2006 – 2010.


A partir de entonces, comenzó a menguar la producción de vivienda nueva y el mercado giro hacia el mercado de vivienda existente. Según datos del Comisionado de Instituciones Financieras (OCIF) la venta de vivienda nueva fue de 1,106 unidades y 12,265 existentes. Rojo me dijo en el programa que en el primer trimestre del 2022 van 294 unidades nuevas y 2,482 existentes. Solo 1 de cada 10 son nuevas.

Urge convertir el desarrollo de vivienda como un tema prioritario En fin, Puerto Rico enfrenta una gran necesidad de vivienda asequible y formal. Si tomamos en cuenta que el 55% de los hogares en la isla son informales y que se necesitan 100,000 nuevas casas el reto es enorme. La retención y atracción de población requiere que haya oferta de vivienda nueva y proyectos planificados. La próxima década será clave para viabilizar una estrategia que permite potenciar de forma organizada esta nueva producción con claros objetivos sociales y económicos. De esta forma, los efectos macroeconómicos serán extraordinarios.


Una estrategia para lograr las metas de vivienda De cara a la segunda mitad del 2022, el consenso de la entrevista es que urge una estrategia integrada que incluya al gobierno central y los municipios, así como a la industria. Esa estrategia debe incluir reducir la carga impositiva que enfrentan los desarrolladores al momento de construir vivienda que puede representar el 25% del costo total de la vivienda.


Además, se deben maximizar los fondos federales provistos para la reconstrucción, resolver los temas de permisos e incentivar el trabajo. “Pulso Económico 580” le dará prioridad a este tema con entrevistas y fomentando una conversación entre las partes que puedan abonar a un ambiente a favor de la meta de vivienda para todos.

Puedes escuchar el programa AQUI

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