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 they are extremely open to it, which accounted for 106% of GDP in 2018. The country mainly exports petroleum oils (7.7%), motor vehicles (3.2%), electronic integrated circuits and microassemblies (3.1%), petroleum gas (2.3%), and parts and accessories for tractors (2.3%), while imports include motor vehicles (6.1%), petroleum oils (4.9%), automatic data processing machines (4.4%), electrical apparatus for line telephony (4%), and medicaments (3.4%).

Besides the United States, Puerto Rico's main trade partners are Mexico, China, Canada, Japan, Germany, and the United Kingdom. The island 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 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 last available data from the World Bank, Puerto Rican exports of goods and services in 2018 totalled USD 60.5 billion, while imports amounted to USD 46.4 billion - resulting on a trade surplus of USD 14.1 billion. While imports increased when compared to the previous year, exports decreased during the same period - mainly due to the impacts of hurricane Maria. Nevertheless, exports still accounted for a larger share of GDP (60%), while imports were 46%.

 
Foreign Trade Indicators 20142015201620172018
Foreign Trade (in % of GDP) 102.4108.9110.3113.1106.1
Imports of Goods and Services (in % of GDP) 41.641.741.544.446.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20212022 (e)2023 (e)2024 (e)2025 (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)
2021
Canada 17.5%
Mexico 15.8%
China 8.6%
Japan 4.3%
South Korea 3.8%
See More Countries 50.1%
Main Suppliers
(% of Imports)
2021
China 18.5%
Mexico 13.2%
Canada 12.4%
Japan 4.8%
Germany 4.7%
See More Countries 46.4%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

1,753.1 bn USD of products exported in 2021
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 4.8%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 4.0%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 3.9%
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%
Electronic integrated circuits and microassembliesElectronic integrated circuits and microassemblies 3.0%
See More Products 81.2%
2,933.0 bn USD of products imported in 2021
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) 5.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 4.7%
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. 4.0%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 3.8%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.9%
See More Products 79.5%

Source: Comtrade, 2022. 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: September 2022

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