Overview In May 2023 Puerto Rico exported $2.01B and imported $2.44B, resulting in a negative trade balance of $426M. Between May 2022 and May 2023 the exports of Puerto Rico have increased by $346M (20.8%) from $1.67B to $2.01B, while imports decreased by $-336M (-12.1%) from $2.77B to $2.44B.
Trade In May 2023, the top exports of Puerto Rico were Packaged Medicaments ($768M), Vaccines, blood, antisera, toxins and cultures ($687M), Orthopedic Appliances ($92.1M), Hormones ($88.5M), and Medical Instruments ($49.7M). In May 2023 the top imports of Puerto Rico were Nitrogen Heterocyclic Compounds ($807M), Refined Petroleum ($329M), Cars ($187M), Sulfonamides ($114M), and Crude Petroleum ($84.9M).
Destinations In May 2023, Puerto Rico exported mostly to Netherlands ($434M), Japan ($263M), China ($217M), Spain ($210M), and Belgium ($179M), and imported mostly from Ireland ($478M), Switzerland ($316M), France ($211M), Mexico ($139M), and Singapore ($127M).
Growth In May 2023, the increase in Puerto Rico's year-by-year exports was explained primarily by an increase in exports to Spain ($99.6M or 98.8%), South Korea ($42.6M or 247%), and Mexico ($18.8M or 69.2%), and product exports increase in Packaged Medicaments ($120M or 28.6%), Nitrogen Heterocyclic Compounds ($18.9M or 112%), and Optical Fibers and optical fibre bundles ($8.48M or 66.3%). In May 2023, the decrease in Puerto Rico's year-by-year imports was explained primarily by an decrease in imports from Netherlands ($-29.8M or -59.8%), Trinidad and Tobago ($-29.5M or -54.3%), and Singapore ($-29M or -38%), and product imports decrease in Sulfonamides ($-113M or -86.9%), Petroleum Gas ($-28.8M or -43.3%), and Antibiotics ($-18.9M or -99%).