P.R. under consideration for inclusion in U.S. Bureau of Economic Analysis
The government of Puerto Rico has begun a collaboration with members of the U.S. Bureau of Economic Analysis for a possible inclusion of the island’s accounts in the stateside statistics, which already include 50 states and other territories.
“I met with BEA Director Brian C. Moyer to start the process of including Puerto Rico in economic statistics produced by the U.S. Bureau of Economic Analysis, which represents a major achievement for the island because outsourcing state accounts at BEA and the consolidation of economic statistics under the Department of Economic Development and Commerce will provide greater certainty to the process and will help increase investor confidence in Puerto Rico,” Economic Development and Commerce Secretary Manuel Laboy said.
This effort complements the implementation of Department of Economic Development and Commerce Reorganization Act, that includes the Puerto Rico Planning Board and the consolidation of several statistical units of the agencies that now make up Puerto Rico Trade and Export. It also considers eliminating the Electronic Export Information, in compliance with Executive Order OE-2017-30.
“The requirement for filing the EEI for interstate commerce between Puerto Rico and other U.S. jurisdictions adds processes that increase the price of goods imported to the island and perpetuates the misperception that Puerto Rico is not part of the U.S, common market,” Laboy said.
“That causes some companies to discriminate against Puerto Rican consumers, in terms of pricing and product availability. We hope that with the efforts we are making, this will change for the better very soon,” said Laboy.
The Congressional Task Force report created by the Puerto Rico Oversight, Management and Economic Stability Act identified more than 30 statistical programs that the federal government conducts in the states but does not implement in Puerto Rico.