Census: P.R. manufacturing shipments drop 4.5% in ’12

Written by  //  March 2, 2015  //  Economy  //  No comments

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The five-year Economic Census of Island Areas provides the most comprehensive source of information about Puerto Rico and other U.S. territories' economy.

The five-year Economic Census of Island Areas provides the most comprehensive source of information about Puerto Rico and other U.S. territories’ economy.

Puerto Rico’s overall manufacturing sector reported $76.6 billion in total value of shipments for 2012, down 4.5 percent from $80.2 billion in 2007, according to the U.S. Census Bureau’s Economic Census of Island Areas.

The total number of manufacturing establishments in Puerto Rico in 2012 was 1,653, down 23.2 percent from 2,151 establishments in 2007. Similarly, the number of manufacturing employees fell 24.3 percent, from 110,691 in 2007 to 83,830 in 2012. Payroll also decreased 16.8 percent, from $3.5 billion to $2.9 billion, over the same period.

Chemical manufacturing remained the leading sub-sector in Puerto Rico, rising from 64.9 percent of total manufacturer’s shipments in 2007 to 68.1 percent in 2012. The value of chemical shipments increased only 0.1 percent to $52.1 billion in 2012. However, employment decreased 43.4 percent, from 30,841 in 2007 to 17,466 in 2012.

As in previous censuses, San Juan-Carolina led the island’s combined statistical areas with $69.4 billion in manufacturer’s shipments in 2012, an increase of 6.7 percent from $65 billion in 2007.

The five-year Economic Census of Island Areas provides the most comprehensive source of information about Puerto Rico and other U.S. territories’ economy.

According to the survey, Puerto Rico had 36 manufacturing establishments with 500 or more employees, representing 2.2 percent of all manufacturing businesses. These businesses had shipments of $39.8 billion, accounting for 51.9 percent of total manufacturing shipments in 2012.

The manufacturing sector reported value added of $52.6 billion in 2012, a decrease of 23.3 percent from $68.6 billion in 2007. Cost of materials had an increase of 18.1 percent, from $12.5 billion in 2007 to $14.8 billion in 2012. Capital expenditures had a decrease of 28.2 percent, from $4.9 billion in 2007 to $3.5 billion in 2012. Rental payments decreased 10.5 percent, from $187.0 million in 2007 to $167.4 million in 2012, the agency said.

Other sub-sectors also included
The Census results released last week also showed that miscellaneous manufacturing was the second leading sub-sector, with $9.1 billion in shipments in 2012, up 23.4 percent from $7.4 billion in 2007.

The medical equipment and supplies manufacturing industry accounted for most of this subsector’s value of shipments, $8.8 billion in 2012, rising 21.2 percent from $7.3 billion in 2007.

“The industries in miscellaneous manufacturing are defined by what is made rather than how it is made. Establishments in this sub-sector manufacture products as diverse as medical equipment and supplies, jewelry, sporting goods, toys and office supplies,” the Census report showed.

Meanwhile, the petroleum and coal products sub-sector declined in sales, payroll and employment, both in terms of dollar amounts and percentages. The decreases consisted of a drop of 52.8 percent in value of shipments, from $3.9 billion in 2007 to $1.9 billion in 2012; a decline of 51.7 percent in payroll, from $38 million in 2007 to $18.4 million in 2012; and an employment decline of 22.6 percent, from 952 employees in 2007 to 737 employees in 2012.

In 2012, the largest percentage increase in employment and payroll belonged to the textile product mills sub-sector, which had 1,144 employees, an increase of 105.8 percent from 556 employees in 2007, and reported payroll of $19.4 million, up 159.2 percent from $7.5 million in 2007.

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