Puerto Rico flag Puerto Rico: Visió econòmica i política

Xifres de comerç exterior de Puerto Rico

Foreign Trade in Figures

Puerto Rico's economy is highly dependent on foreign trade, and it is extremely open to it, as trade accounts for 98% of GDP (World Bank, latest data available). The country mainly exports petroleum oils (12.3%), petroleum gas (4.7%), motor vehicles (2.8%), and electronic integrated circuits and microassemblies (2.5%); while imports include petroleum oils (6.1%), motor vehicles (5%), telephone sets (3.8%), automatic data processing machines (3.7%), and medicaments (2.7% - data Comtrade 2022). However, if re-exports are not taken into account, pharmaceutical products constitute the bulk of exports.

In 2022, the island’s main export partners (excluding the U.S.) were Canada (17.2%), Mexico (15.7%), China (7.5%), Japan (3.9%), and the United Kingdom (3.7%). Imports came chiefly from China (17.1%), Mexico (13.6%), Canada (13.2%), Japan (4.6%), and Germany (4.5% - data Comtrade 2022). Puerto Rico has the largest non-contiguous Foreign Trade Zone project in the United States, which allows companies to obtain significant financial savings since items can be processed within a zone while eliminating the custom duty rate of such a product. Puerto Rico is subject to trade agreements signed by the United States and while the island has established relations with other countries, particularly in Latin America, the establishment of such relations requires permission from either the U.S. Department of State or the U.S. Congress.

According to the U.S. Bureau of Labor Statistics, Puerto Rico's total exports reached USD 22.5 billion in 2023, marking a 9.2% increase from the previous year. Puerto Rico dominated U.S. exports of pharmaceutical and medicine manufacturing, comprising 16.4% of the total U.S. trade dollar value in 2023. Medical equipment and supplies manufacturing ranked as Puerto Rico's second-largest export, representing 7.1% of total exports. The territory's top three exports collectively made up about 89.7% of its total exports in 2023.

 
Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 106.0107.6103.596.898.1
Imports of Goods and Services (in % of GDP) 46.047.043.242.445.4

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 0.00.00.00.00.0
Volume of imports of goods and services (Annual % change) 0.00.00.00.00.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Because Puerto Rico is part of the U.S. customs territory, it belongs to a number of agreements signed by the United States. For more details on the trade agreements signed by the United States, please refer to this site.

Puerto Rico is part of the free-trade agreement between the Dominican Republic and Central America; the trade agreement signed with the Andean countries (ATPA); the Asia-Pacific economic cooperation treaty (APEC); the Caribbean Basin Initiative (CBI); the Economic Commission for Latin America and the Caribbean (ECLAC); and it has the status of observer within the Caribbean common market (CARICOM).

 

Main Partner Countries

Main Customers
(% of Exports)
2023
Canada 17.5%
Mexico 16.0%
China 7.3%
Netherlands 4.1%
Germany 3.8%
See More Countries 51.3%
Main Suppliers
(% of Imports)
2023
Mexico 15.2%
China 14.1%
Canada 13.6%
Germany 5.1%
Japan 4.8%
See More Countries 47.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

2,018.5 bn USD of products exported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 5.8%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 5.6%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 3.3%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.1%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products 2.5%
See More Products 79.7%
3,168.5 bn USD of products imported in 2023
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 6.6%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 5.4%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.8%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 3.3%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 2.8%
See More Products 78.0%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

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Actualitzacions: May 2024

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