The economy Of the island, which at that point it was largely agrarian, did not achieve such significant economic progress as those achieved after World War II. From that moment, the economy of Puerco Rice has undergone a process of industrialization and long and deep modernization. During the XVI-XVIII centuries the colonization by Spain made the Puerco Rican economy was based on subsistence agriculture, slavery and mining economy. In the 18th century, specifically in 1 898, the government created bases for a national economy: agriculture for export: sugarcane, coffee and bacon; then Puerco Rice is became a net importer Of food. Coffee gained commercial importance during the second half of the 1 9th century, when it was exported to European countries and the United States. In these markets, Puerco Rice coffee enjoyed wide acceptance among the lovers of this product. During the first decades of the 20th century, were large plantations that large part of the Plains and the hills to the cultivation of sugar cane. The economy was oriented towards manufacturing and operating costs increased, most sugar mill closed its operations gradually. From 1898, Puerco
Rice is an unincorporated territory of the United States. The economic relationship is colonial nature despite the transformations suffered by the island after the war. That relationship influenced significantly the economic boom which took the island from the year 1947 until 1973. Commercial cultivation of tobacco was developed during the first decades of the 20th century, under the sovereignty of the United States. Record exports were made in 1 957 to North America, England, Spain, France, Mexico, Honduras, Costa Rica and other countries engaged in the cigar around the world.
Until then, Puerco Rice was the fifth in the world ‘s biggest tobacco exporter, after the United States, Mexico, Venezuela and Africa. From 1900 to 1927, Puerco Rice produced around 35 million tons of tobacco annually. Currently, its production is limited, craft, and it is used for the creation of fine cigars. TO the sectors of manufacturing, trade and services occupied positions of greatest importance. Starchy foods, such as banana and banana, and the tubers such as cassava, the taro and sweet potato, occupy an important place in the agricultural economy of Puerco Rice and they are an essential part of the Puerco Rican diet.
In 1 950, agriculture generated 36. 2% of total employment in the country. At some point during the 1 ass’s, both in absolute and relative terms, agriculture was no longer the largest employer in the economy of Puerco Rice- The proportion of employment that brought agriculture shrank to 22. 8% in 1960 and 9. 9% in 1970. Over the last three decades of the 20th century and the first years of the 21st century the trend of reduction is maintained. Nowadays, the manufacturing is the main sector of Puerco Rice’s economy.
In addition, it serves as a link between the island and the technological trends and the global economy market. The Government has managed to attract and retain a large amount of manufacturing companies engaged in high technology and capital investment. Some of the most important industries within the manufacturing sector are: pharmaceutical, textiles, the petrochemicals, computers, electronics and the companies involved in the manufacture of medical and scientific instruments among others.
In Puerco Rice there are around 2,000 industrial plants in different sectors of the island which operate under federal and local incentives. One hundred seventy-eight of the 500 wealthiest companies in Fortune magazine list operate in Puerco Rice. In recent years, this sector has generated a significant increase in exports from the island. At the same time, the manufacturing sector is one Of the main employers in Puerco Rice. Puerco Rice has had great success in the attraction and retention of high fixed capital and high-tech industries.
These include manufacturers of pharmaceutical products, computer and medical, scientific and electronic measuring instruments. And electronic equipment used in the trade, such as: cartridge for printer Hewlett Packard inkiest and plates Intel mother are also produced on the island. Manufacturing is the sector of major economic importance in terms of gross national product. 2 Fortune magazine publishes a list of the 100 largest U. S. Companies. Of them, 57 benefit workforces trained and dedicated in Puerco Rice. From the list of the 500 largest companies in the same journal contained 167 in Puerco Rice.
Puerco Rice has had considerable growth in pharmaceuticals and high-tech sector for the competitive advantages of the manufacturing on the island. At present, more than 40 pharmaceutical companies they operate in Puerco Rice. The pharmaceutical community of Puerco Rice is the largest us, surpassing those of New Jersey, Pennsylvania, Maryland and California. Conclusion As we can see, Puerco Ricans’ economy has changed through years. During the first centuries of Spanish rule in Puerco Rice, agricultural operations were the main strength of the economy. Exporting coffee and tobacco position Puerco Rice at a great point in its economy.