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PUERTO RICO Tenders




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Capital San Juan
ISO 3166 Code PR
Population 3,548,397
Area, Sq KM 9,104
Currency United States Dollar
Official Language English, Spanish
GDP, Billion USD 1,03,135
GDP Growth Rate, % -5.8
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 1.0
International dial code 787
Time Zone GMT-04:00
Internet TLD .pr

Puerto Rico is officially known as the Commonwealth of Puerto Rico. It is a United States territory which is located in the northeastern Caribbean. Puerto Rico is an archipelago which includes the main island of Puerto Rico along with a number of smaller islands. The population of the country is about 3.6 million people. San Juan is the capital and largest city of Puerto Rico. The country is known for its tropical climate with warm weather round the year round. The official languages of this region are Spanish, which is predominant, and English. The land was originally populated by the aboriginal Taino people for centuries and in 1493, the island was claimed by Columbus for the Kingdom of Spain. Like Cuba, Puerto Rico also remained a Spanish colony till the year 1898. During Spanish rule, the culture and the physical landscape of the region were transformed. European customs, knowledge and traditions were introduced, especially Roman Catholicism, the Spanish language. The region also advanced such as agriculture, construction in stone along with the printing press. Numerous public buildings, forts, churches and public infrastructure built during Spanish colonial rule still stand today. In 1898 Spain ceded the island to United States as per the Treaty of Paris, which ended the Spanish American War. People who are born in Puerto Rico are considered to be natural-born citizens of the United States. The territory operates under a local constitution and the country elects a governor. The economy of this region is classified as a high income economy as per the World Bank. Not only that, it is also the most competitive economy in Latin America according to the World Economic Forum. TheWorld Bank claims that the gross national income per capita of Puerto Rico as of 2013 is $23,830. Puerto Rico is also ranked as 63rd among all the sovereign entities in the world. The economy of the country is mainly driven by manufacturing which is followed by the service industry including finance, real estate, insurance and tourism. The geography of Puerto Rico along with its political status are both determining factors that affect the economic prosperity of the country primarily because of its relatively small size as an island, its dependence on imports and its lack of natural resources used to produce raw materials. 41 percent of the total population of this country is considered to live under the poverty line and it is known to be poorer than Mississippi.

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