Finance of Puerto Rico
The minimum monthly wage in Puerto Rico is dependent on each particular industry. With regard to consumer prices, the inflation rate in Puerto Rico is 0.9%. The currency of Puerto Rico is United States dollar. The United States dollar is one of the most significant currencies in the world, and is used in several territories besides The United States including Puerto Rico, Guam, and The US Virgin Islands. The United States dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word United States dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The United States dollar is divided into cent; there are 100 in one dollar. Each year, consumers spend around $5,847 million. The ratio of consumer spending to GDP in Puerto Rico is 0.01%, and the ratio of consumer spending to the world consumer market is 1.69%. The corporate tax in Puerto Rico is set at 20%. Personal income tax ranges from 16% to 33.34%, depending on your specific situation and income level. VAT in Puerto Rico is 11.5%, and it is known as Sales & Use Tax.
Gross Domestic Product
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Puerto Rico is $127 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Puerto Rico was last recorded at $34,709. PPP in Puerto Rico is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Puerto Rico is 105,149 billion. Based on this statistic, Puerto Rico is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Puerto Rico was last recorded at $28,737,032. The average citizen in Puerto Rico has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Puerto Rico averaged -5.8% in 2014. According to this percentage, Puerto Rico is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment.