Puerto Rico Economic Pulse ©

October 2008: Exporting Services: Goal or Dream?

The next economic strategy for Puerto Rico

The winds of globalization are blowing harder and carving a new world. Foreign trade, formerly dominated by goods, is now featuring an unstoppable boom of services. Emerging and developing countries are fiercely fighting to excel as services exporters whether as R&D and financial centers, tourist destinations, or maritime ports, among others. The challenge has reached the shores of Puerto Rico and the island cannot dismiss it. With manufacturing faltering and agriculture on the brink of extinction, exporting services is a must for Puerto Rico. It is time to assess how the island can pull off this test and join the club of successful service exporters. Find out what is happening with services around the world and in Puerto Rico.