The monthly minimum wage in Puerto Rico varies by industry. In relation to consumer prices, the inflation rate in Puerto Rico is 0.9%. The currency of Puerto Rico is the US dollar. The US dollar is one of the most important currencies in the world and is used in several territories in addition to the United States, including Puerto Rico, Guam and the US Virgin Islands. The US Dollar is a stable currency to rely on for investment opportunities. The plural form of the word US dollar is dollars. The symbol used for this currency is $ and is abbreviated as USD. The US dollar is divided into cents; There are 100 in a dollar. Every year, consumers spend around US$5,847 million. The ratio of consumer spending to GDP in Puerto Rico is 0.01% and the ratio of consumer spending to world consumer market is 1.69%. The corporate income tax in Puerto Rico is 20%. Personal income tax ranges from 16% to 33.34% depending on your specific situation and income level. Sales tax in Puerto Rico is 11.5% and is known as Sales & Use Tax.
Gross domestic product The total Gross Domestic Product (GDP) calculated as Purchasing Power Parity (PPP) in Puerto Rico is US$127 billion. The gross domestic product (GDP) calculated as purchasing power parity (PPP) per capita in Puerto Rico was last at 34,709 US dollars. PPP in Puerto Rico is considered very good compared to other countries. A very good PPP indicates that citizens of this country find it easy to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with very good purchasing power parities 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 classified as a medium economy country. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies. The gross domestic product (GDP) per capita in Puerto Rico was last at 28,737,032 US dollars. The average citizen in Puerto Rico has very high net worth. Countries with very high per capita wealth have a longer life expectancy and a very high standard of living. There are highly skilled workers in many industries and labor is very expensive in these countries. Very wealthy countries offer safe investment opportunities as they are often backed by a diverse and thriving financial sector. The annual GDP growth rate in Puerto Rico averaged -5.8% in 2014. According to this percentage, Puerto Rico is currently experiencing a significant decline. Countries that experience significant declines could see dramatic declines in personal consumption, employment rates, and personal income. A significant drop in GDP should alert investors that this location is high risk and should not be considered a safe place to invest.