Prototype Gross Domestic Product for Puerto Rico, 2012–2018
Today, the Bureau of Economic Analysis (BEA) released prototype annual estimates of gross domestic product (GDP) for Puerto Rico for 2012 to 2018. This release represents another major step by the Bureau to develop comprehensive economic accounts for Puerto Rico that are consistent with international guidelines and that are directly comparable to data for other states and countries.
The prototype estimates showed that the Puerto Rico economy, as measured by inflation-adjusted (or “real”) GDP, expanded from 2012 to 2014, before turning down in 2015 and continuing to decrease through 2018. Exports of goods and services was a key contributor to changes in real GDP over this period.
What is GDP for Puerto Rico?
A comprehensive measure of economic activity for Puerto Rico. GDP is the value of the goods and services produced in a territory. The data include the components of GDP: consumer spending, private fixed investment, private inventory investment, imports and exports, and government spending.