An overview of the economy of cuba and puerto rico

When a constitutional convention was convened in Havana in June of to write a constitution for Cuba the Platt Amendment was incorporated in that constitution. Puerto Rico carries more debt per capita than any state in the United States.

The banks were in severe financial conditions. He devoted himself to working towards such things as suffrage for Cuban women. The economy of Puerto Rico was transformed drastically upon the arrivals of Spaniards in until their departure in Today Hotel Havana Riviera is the only hotel that was built before the revolutionary government took control.

Their combined surface area is some 42, square miles. Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of to the dollar in the summer of to 21 to the dollar by year-end Alfredo Zayas was not a dynamic politician; some commented on his being phlegmatic; i.

By the mids, however, industry began to surpass agriculture as the base of the economy, especially in pharmaceuticals, electronics, textiles and clothing, petrochemicals, processed foods, and tourist-related businesses. Wood decreed that all males who were literate and owned property or served in the Cuban army could vote.

Zayas came from a distinguished Cuban family. It also called for the leasing of a naval base in perpetuity. We will carefully protect all information you provide, including your identity.

Dairy and livestock production has replaced sugar as the leading source of agricultural income. Puerto Rico is relatively poor in natural resources, which resulted in economic dependence on the United States.

After isolating and defeating the Spanish Army garrisons in Cuba, the U. He told them that if they committed suicide he would also do so to follow them into the afterlife and work them even harder and more severely there.

Banks are insured by the Federal Deposit Insurance Corporation. InPresident Clinton aimed to cut the Section of the U. He called for the eventual freeing of all slaves in Cuba with compensation paid to their owners.Puerto Rico's economy was dominated by sugar production up until the s.

Manufacturing has surpassed agriculture as the primary sector of economic activity and income; composing almost half (about 46%) of the gross domestic product (GDP) of the island. Cuba 1, 9, 9, 9, But will Cuba's tourism hurt beleaguered Puerto Rico?

Puerto Rico vs Cuba: A rivalry in the making? Subscribe; Home; Tourism contributes an estimated $7 billion a year to the island’s economy.

An overwhelming majority of Puerto Rico's foreign trade is with the United States, but the North American Free Trade Agreement (NAFTA) also encourages Puerto Rico to trade with Canada and Mexico.

Still, the economy relies heavily on the United States, and receives many forms of federal economic aid. Development in Cuba and Puerto Rico: A Comparison Carleigh Haron Trinity College, full control of its economy. The roots of Cuba and Puerto Rico’s colonial history are strikingly similar compared to other Spanish colonies; they were some of the first islands that Christopher Overview.

I argue that both nations have been marginalized.

Puerto Rico

The Economic History and Economy of Cuba: History. The Treaty of Paris which ended the war allowed the U.S.

to take over Cuba, Puerto Rico and the Philippines as major prizes but also a few minor possessions such as the island of Guam. The Treaty of Paris allowed for the Spanish citizens in the possessions to remain if they wished and to.

Data extracted on: September 07, Source: U.S.

Economy of Cuba

Bureau of Labor Statistics Note: More data series, including additional geographic areas, are available through the "Databases & Tables" tab at the top of this page. Puerto Rico includes the following metropolitan areas for which an Economy At A Glance table is available.

Aguadilla-Isabela-San Sebastian, PR.

An overview of the economy of cuba and puerto rico
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