Puerto Rico Summary of Account for Inventory of Business
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How to fill out Summary Of Account For Inventory Of Business?
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The Puerto Rico Planning Board announced that the island's economy is expected to experience sustained economic growth of 1.8% over the next 10 years, ing to the projections for fiscal years 2023 to 2033 published Wednesday.
Puerto Rico Economic Outlook ing to preliminary data, the economy grew a timid 0.3% in FY 2023 (July 2022?June 2023), beating our panel's expectation of a 0.1% increase. Still, the result marks a steep deceleration from FY 2022's 3.2% expansion.
Following a strong rebound from the pandemic and continued resilience in early 2023, economic growth in Latin America and the Caribbean is projected to moderate from 4.1 percent in 2022 to 2.3 percent in 2023.
The world economy is expected to grow by 3.0% in 2023, before slowing down to 2.7% in 2024. A disproportionate share of global growth in 2023-24 is expected to continue to come from Asia, despite the weaker-than-expected recovery in China.
This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Puerto Rico from 2011 to 2021. In 2021, agriculture contributed around 0.67 percent to the GDP of Puerto Rico, 50.91 percent came from the industry and 48.94 percent from the services sector.
Services. Services, including trade, finance, tourism, and government work, have become the dominant and most dynamic force in Puerto Rico's economy, accounting for about half of the GDP and as much as three-fourths of employment on the island.
The economy of Puerto Rico is mainly driven by manufacturing, primarily pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, primarily finance, insurance, real estate, and tourism.
EIU expects economic growth to weaken to 0.8% in the 2023/24 fiscal year (July-June), owing to a slowdown in the US. Looking further ahead, the economy will eventually resume its secular decline once federal support for reconstruction diminishes.
