Overview: In January 2021 Puerto Rico exported $1.22B and imported $1.35B, resulting in a negative trade balance of $135M. Between January 2020 and January 2021 the exports of Puerto Rico have decreased by $-41.5M (-3.29%) from $1.26B to $1.22B, while imports decreased by $-736M (-35.2%) from $2.09B to $1.35B.
Trade: In January 2021, the top exports of Puerto Rico were Packaged Medicaments ($417M), Blood, antisera, vaccines, toxins and cultures ($408M), Unpackaged Medicaments ($56.9M), Orthopedic Appliances ($41.3M), and Hormones ($39.2M). In January 2021 the top imports of Puerto Rico were Nitrogen Heterocyclic Compounds ($251M), Refined Petroleum ($133M), Sulfonamides ($130M), Cars ($112M), and Blood, antisera, vaccines, toxins and cultures ($110M).
Destinations: In January 2021, Puerto Rico exported mostly to Netherlands ($318M), Japan ($103M), Italy ($102M), Spain ($101M), and Belgium ($92.7M), and imported mostly from Ireland ($369M), South Korea ($106M), China ($78.9M), Singapore ($76.4M), and Japan ($64.5M).
Growth: In January 2021, the decrease in Puerto Rico's year-by-year exports was explained primarily by an decrease in exports to Spain ($-77.2M or -43.3%), Japan ($-66.3M or -39.3%), and France ($-50.3M or -85%), and product exports decrease in Packaged Medicaments ($-148M or -26.2%), Orthopedic Appliances ($-25.9M or -38.5%), and Refined Petroleum ($-20.5M or -62.6%). In January 2021, the decrease in Puerto Rico's year-by-year imports was explained primarily by an decrease in imports from Ireland ($-641M or -63.5%), Singapore ($-88.7M or -53.7%), and Canada ($-63.6M or -78.9%), and product imports decrease in Nitrogen Heterocyclic Compounds ($-662M or -72.5%), Refined Petroleum ($-167M or -55.6%), and Sulfonamides ($-30.4M or -19%).