The Impact Of Industrialization On The Economy Of Puerto Rico
Introduction During the first centuries of Spanish rule in Puerto Rico, agricultural operations had had directed by estates, cultivating sugarcane and other fruits. They were not large-scale operations, but they produced enough for local consumption. In the nineteenth century, larger farms emerged. These farms produced enough for local consumption and to export. Later, coffee, and sugarcane became the main export products to markets in Europe.
Puerto Rico has economic and political relations with the United States since the completion of the Spanish-American War in 1898. 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 Puerto Rico has undergone a process of industrialization and long and deep modernization.
During the XVI-XVIII …show more content…
centuries the colonization by Spain made the Puerto Rican economy was based on subsistence agriculture, slavery and mining economy. In the 18th century, specifically in 1898, the government created bases for a national economy: agriculture for export: sugarcane, coffee and tobacco; then Puerto Rico is became a net importer of food.1 Coffee gained commercial importance during the second half of the 19th century, when it was exported to European countries and the United States. In these markets, Puerto Rico 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, Puerto Rico 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 1957 to North America, England, Spain, France, Mexico, Honduras, Costa Rica and other countries engaged in the cigar around the world. Until then, Puerto Rico was the fifth in the world 's biggest tobacco exporter, after the United States, Mexico, Venezuela and Africa. From 1900 to 1927, Puerto Rico 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 Puerto Rico and they are an essential part of the Puerto Rican diet. In 1950, agriculture generated 36.2% of total employment in the country. At some point during the 1960 's, both in absolute and relative terms, agriculture was no longer the largest employer in the economy of Puerto Rico. 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 Puerto Rico’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 Puerto Rico 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 Puerto Rico. 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 Puerto Rico. Puerto Rico 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 inkjet 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 Puerto Rico. From the list of the 500 largest companies in the same journal contained 167 in Puerto Rico. Puerto Rico 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 Puerto Rico. The pharmaceutical community of Puerto Rico is the largest us, surpassing those of New Jersey, Pennsylvania, Maryland and
California.
Conclusion As we can see, Puerto Ricans ' economy has changed through years. During the first centuries of Spanish rule in Puerto Rico, agricultural operations were the main strength of the economy. Exporting coffee and tobacco position Puerto Rico at a great point in its economy. After that, the manufacturing took a great boom, making that the Puerto Ricans’ economy was based on manufacturing, casting aside agriculture and tobacco production. Puerto Ricans ' economy was formerly based on the wealth of the land and the majority of Puerto Ricans are working in manufacturing.
References
1 Rodríguez, C. . (2008, Septiembre). La evolución histórica, la teoría económica. Departamento de Economía , I, 136.
2 CVA. (2014). De la agricultura a la manufactura. 2014, Febrero 15, de CVA Sitio web: http://www.proyectosalonhogar.com/Salones/Historia/1-3/Agricultura_manufactura/Indice.htm
Puerto Rico has economic and political relations with the United States since the completion of the Spanish-American War in 1898. 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 Puerto Rico has undergone a process of industrialization and long and deep modernization.
During the XVI-XVIII …show more content…
centuries the colonization by Spain made the Puerto Rican economy was based on subsistence agriculture, slavery and mining economy. In the 18th century, specifically in 1898, the government created bases for a national economy: agriculture for export: sugarcane, coffee and tobacco; then Puerto Rico is became a net importer of food.1 Coffee gained commercial importance during the second half of the 19th century, when it was exported to European countries and the United States. In these markets, Puerto Rico 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, Puerto Rico 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 1957 to North America, England, Spain, France, Mexico, Honduras, Costa Rica and other countries engaged in the cigar around the world. Until then, Puerto Rico was the fifth in the world 's biggest tobacco exporter, after the United States, Mexico, Venezuela and Africa. From 1900 to 1927, Puerto Rico 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 Puerto Rico and they are an essential part of the Puerto Rican diet. In 1950, agriculture generated 36.2% of total employment in the country. At some point during the 1960 's, both in absolute and relative terms, agriculture was no longer the largest employer in the economy of Puerto Rico. 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 Puerto Rico’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 Puerto Rico 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 Puerto Rico. 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 Puerto Rico. Puerto Rico 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 inkjet 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 Puerto Rico. From the list of the 500 largest companies in the same journal contained 167 in Puerto Rico. Puerto Rico 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 Puerto Rico. The pharmaceutical community of Puerto Rico is the largest us, surpassing those of New Jersey, Pennsylvania, Maryland and
California.
Conclusion As we can see, Puerto Ricans ' economy has changed through years. During the first centuries of Spanish rule in Puerto Rico, agricultural operations were the main strength of the economy. Exporting coffee and tobacco position Puerto Rico at a great point in its economy. After that, the manufacturing took a great boom, making that the Puerto Ricans’ economy was based on manufacturing, casting aside agriculture and tobacco production. Puerto Ricans ' economy was formerly based on the wealth of the land and the majority of Puerto Ricans are working in manufacturing.
References
1 Rodríguez, C. . (2008, Septiembre). La evolución histórica, la teoría económica. Departamento de Economía , I, 136.
2 CVA. (2014). De la agricultura a la manufactura. 2014, Febrero 15, de CVA Sitio web: http://www.proyectosalonhogar.com/Salones/Historia/1-3/Agricultura_manufactura/Indice.htm