Puerto Rico: Visió econòmica i política
Puerto Rico's economy is highly dependent on foreign trade, and it is extremely open to it, as trade accounts for 102% of GDP (World Bank, latest data available). The country mainly exports biological products, except diagnostic (42.7% of the total exports in 2023), pharmaceutical preparations (26.9%), surgical appliance and supplies (5.1%), surgical and medical instruments (2.7%); whereas imports are led by pharmaceutical preparations (14.0%), biological products, except diagnostic (10.6%), all other basic organic chemicals (9.4%), petroleum refinery products (7.7% - data Junta de Planificacion for 2023).
In 2023, the island’s main export partners were the United States (71.8%), the Netherlands (6.6%), Spain (6.1%), Belgium (2.0%), and Austria (1.8%); with imports coming chiefly from the United States (56.9%), Ireland (8.6%), Switzerland (4.0%), Mexico (2.2%), and Singapore (2.1% - data Junta de Planificacion). 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 24.7 billion in 2024, a 9.7% increase from 2023, driven by a strong pharmaceutical manufacturing sector. The island ranked second among U.S. jurisdictions in pharmaceutical and medicine manufacturing exports, accounting for 17.6% of the total U.S. trade in that category. Medical equipment and supplies manufacturing was the second-largest export, representing 6.5% of total exports. Together, these two sectors made up approximately 88.3% of Puerto Rico’s total exports in 2024.
Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
Foreign Trade (in % of GDP) | 107.6 | 103.5 | 96.7 | 98.5 | 101.7 |
Imports of Goods and Services (in % of GDP) | 47.0 | 43.2 | 42.3 | 45.9 | 47.8 |
Source: World Bank ; Latest available data
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 Customers (% of Exports) |
2023 |
Canada | 17.5% |
Mexico | 16.0% |
China | 7.3% |
Netherlands | 4.1% |
Germany | 3.8% |
Japan | 3.8% |
United Kingdom | 3.7% |
South Korea | 3.2% |
France | 2.2% |
Brazil | 2.2% |
Singapore | 2.1% |
India | 2.0% |
Belgium | 1.9% |
Australia | 1.7% |
Italy | 1.4% |
Switzerland | 1.4% |
Hong Kong SAR, China | 1.4% |
Spain | 1.2% |
United Arab Emirates | 1.2% |
Malaysia | 1.0% |
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% |
South Korea | 3.8% |
Vietnam | 3.8% |
India | 2.8% |
Ireland | 2.6% |
Italy | 2.4% |
United Kingdom | 2.0% |
France | 1.9% |
Thailand | 1.9% |
Switzerland | 1.7% |
Malaysia | 1.5% |
Brazil | 1.3% |
Singapore | 1.3% |
Netherlands | 1.2% |
Indonesia | 0.9% |
Spain | 0.8% |
See More Countries | 47.2% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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 2025
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