Puerto Rico experiences first positive migration rate in years

While all municipalities lost population between 2010 and 2020, some 43 municipalities gained population between 2023 and 2024, with Guaynabo, Bayamón and Arecibo leading the way. (Facebook via Aeropuerto Luis Muñoz Marín)

By The Star Staff

Puerto Rico has experienced its first positive net migration rate in years, signaling a shift in the island’s population dynamics, according to the Economic Report to the Governor and the Legislative Assembly (IEG by its initials in Spanish) released by the Puerto Rico Planning Board on Monday.

Planning Board President Héctor Morales Martínez announced a positive migration rate of 4.7 per 1,000,000 inhabitants, reflecting a welcomed change in Puerto Rico’s population trends.

While all municipalities lost population between 2010 and 2020, some 43 municipalities gained population between 2023 and 2024, with Guaynabo, Bayamón and Arecibo leading the way.

Projections suggest that the population could fall below 2.8 million by 2030, characterized by a growing number of older adults and a declining number of young people, as highlighted by Miriam García Velázquez, director of the Social Analysis, Models, and Projections subprogram at the Planning Board.

The IEG also includes analyses of the global economy, the United States economy, and Puerto Rico’s economy. It emphasizes that modern technologies, technical training and agribusiness are essential pillars for transforming agriculture on the island.

Alejandro Díaz Marrero, director of the Planning Board’s Economic and Social Planning Program, noted that the latest IEG outlines the agricultural outlook and available opportunities.

“Although agriculture contributes less than 1% of the GDP, it remains vital for food security,” he stated.

In 2023, gross agricultural income exceeded $940 million, with crop production now leading over animal products. Díaz Marrero noted that there are opportunities for growth in the sector, particularly with the government’s renewed focus on education, infrastructure and soil protection.

The U.S. territory’s economy, as measured by gross domestic product (GDP) at constant prices, grew by 2.1% in fiscal year (FY) 2024 compared to FY 2023. This growth is mainly attributed to increases in exports of goods and services (5.6%), personal consumption expenditures (2.4%), total domestic fixed capital investment (6.8%), and government consumption expenditures (3.0%).

In April, the Planning Board presented its economic projections for 2025 and 2026, showing moderate economic growth of 1.1% and 0.5%, respectively.

The Planning Board is responsible under law for preparing Puerto Rico’s macroeconomic projections, which are updated periodically based on changes in economic activity.