In October 2024 cement sales in Puerto Rico reached 60,151t (1.412m bags of 94lb/42.6kg), up 15.2 per cent YoY, according to data published by the Economic Development Bank (BDE). The increase is the second-consecutive rise in sales after sales fell 4.9 per cent YoY in August as well as the largest in the last 19 months.
“We see a recovery in the construction sector, particularly in cement sales, which predicts a good impact on infrastructure development and job creation in Puerto Rico. Although fiscal year 2024 closed with a 1% decrease in cement sales compared to the previous year, the beginning of fiscal year 2025 shows a 6.3 per cent increase in sales between July and October. This allows us to anticipate a progressive recovery in this key sector for our economy,” said Luis Alemañy, BDE president.
Output from Puerto Rican cement plants increased by 19.3 per cent to 34,719t (815,000 bags) in October 2024.
January-October 2024
In the first 10 months of 2024, sales slipped by 0.4 per cent YoY to 529,603t (12,432,000 bags) when compared with the 10M23. Sales saw a 1.3 per cent uptick at the end of 2023.
In September, the number of employees in construction rose to 37,500, an increase of 4.7 per cent, while the number of establishments in the sector rose from 4355 in 2023 to 4551 in the first quarter of this year. “This evolution suggests a solid basis for a sustained increase in the coming years, especially considering the projected investments in infrastructure for the Island,” explains Gladys Medina, an economist at the BDE.
Production in the 10M24 declined by 7.4 per cent YoY to 302,034t (7,090,000 bags) after expanding by 8.6 per cent in 2023.
