After moving from sugar-dominated agriculture up through the 1940s to an industrial economy dominated by manufacturing into the 1980s, Puerto Rico evolved into a classic service economy during the last 20 years of the 20th century.
Commerce represents the bulk of economic activity as measured by employment.
A strong hike in investment by both the public and private sectors highlighted this growth period. Behind this hike was strong construction activity by government in infrastructure and private investment in housing, malls, hotels, and office buildings. Most of this expansion, in turn, is the result of Puerto Rico's stage in the development process. As a result, capital continued to come to the island, joining a growing number of local investors to fill those gaps with projects and money. Also feeding the boom has been new money placed in technology, as businesses invest to cut costs and gain productivity.