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.