Current Account in Puerto Rico
Puerto Rico - Current AccountThe economy is likely struggling in the second half of fiscal year 2020, which runs from January to June. The island was hit by its biggest earthquake in a century in early January, which destroyed infrastructure and temporarily left hundreds of thousands without electricity, and regular aftershocks have persisted ever since. Moreover, the recent outbreak of coronavirus around the world will likely take a toll on the tourism sector, although Puerto Rico’s pharmaceutical sector could capitalize on a rise in demand for medical products. This comes as data from the Economic Development Bank for Puerto Rico confirms the economy remains in a fragile state: Economic activity growth flatlined in the first half of FY 2020, after growing modestly in the second half of FY 2019.
Puerto Rico - Current Account Data
|Current Account (% of GDP)||4.3||7.2||9.1||8.4||8.1|
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