Puerto RicoState in United States
2022 Economic Complexity : 0.36, Rank 18 of 52
Mar 2023 Trade Exports | Imports: $2.12B | $2.12B, 25 of 54 | 25 of 54
Mar 2023 Country Destination | Origin: Spain | Ireland , $458M | $453M
Mar 2023 Product Exports | Imports: Medicaments nes, in dosage | Medicaments nes, formulated, in bulk , $877M | $411M
Overview This page contains the latest international trade data for Puerto Rico. In March 2023 Puerto Rico was the number 25 in total exports and the number 27 in total imports in United States.
Exports In 2022, United States' Puerto Rico exported $20.7B, making it the 25th largest exporter out of the 53 exporters in United States. In 2022 the top exports of Puerto Rico were Medicaments nes, in dosage ($8.03B), Immunological products packings for retail sale ($5.73B), Polypeptide hormones, protein hormones and glycoprotein... ($604M), Orthopaedic appliances, nes ($378M), and Polypeptide hormones, protein hormones and glycoprotein... ($372M).
Imports In 2022, United States' Puerto Rico imported $26.2B, making it the 27th largest importer out of the 53 importers in United States. In 2022 top imports of Puerto Rico were Hetercyclic compounds with pyrimidine ring nes ($4.7B), Lactams other than 6-hexanelactam ($3.82B), Petroleum spirit for motor vehicles ($1.79B), Sulphonamides; n.e.c. in heading no. 2935 ($1.73B), and Light petroleum distillates nes ($1.06B).
Economic Complexity In 2022, the highest complexity exports of Puerto Rico according to the product complexity index (PCI) are Hydrides and other anions (1.72), Sulfonamides (1.32), Vaccines, blood, antisera, toxins and cultures (1.2), Optical Fibers and optical fibre bundles (0.94), Antibiotics (0.89), Orthopedic Appliances (0.88), Packaged Medicaments (0.64), Hormones (0.58), Unpackaged Medicaments (0.36), and Other Precious Metal Products (-0.0016). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
March, 2023
Overview In March 2023 Puerto Rico exported $2.12B and imported $2.12B, resulting in a positive trade balance of $4.43M. Between March 2022 and March 2023 the exports of Puerto Rico have increased by $357M (20.2%) from $1.76B to $2.12B, while imports decreased by $-219M (-9.39%) from $2.34B to $2.12B.
Trade In March 2023, the top exports of Puerto Rico were Packaged Medicaments ($898M), Vaccines, blood, antisera, toxins and cultures ($669M), Orthopedic Appliances ($99M), Medical Instruments ($51.6M), and Antibiotics ($50.8M). In March 2023 the top imports of Puerto Rico were Nitrogen Heterocyclic Compounds ($437M), Unpackaged Medicaments ($411M), Sulfonamides ($204M), Refined Petroleum ($199M), and Cars ($134M).
Destinations In March 2023, Puerto Rico exported mostly to Spain ($458M), Netherlands ($438M), Belgium ($158M), China ($119M), and Japan ($118M), and imported mostly from Ireland ($453M), Portugal ($375M), Switzerland ($208M), Singapore ($99.2M), and Japan ($97.7M).
Growth In March 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 ($8.48M or 66.3%). In March 2023, the decrease in Puerto Rico's year-by-year imports was explained primarily by an decrease in imports from Netherlands ($-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%).
EXPORT GROWTH (March 2022 - March 2023): $357M, (20.2%)
IMPORT GROWTH (March 2022 - March 2023): $-219M, (-9.39%)
This section shows exports and imports data at subnational level for Puerto Rico. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Puerto Rico over time.
For full datasets download visit Bulk Download page.
Top Destination (2022): Netherlands, $4.09B
Top Product (2022): Medicaments nes, in dosage, $8.03B
In 2022 the top export destinations of Puerto Rico were Netherlands ($4.09B), Spain ($3.54B), Japan ($1.56B), China ($1.53B), and Italy ($1.34B).
In 2022 the top exports of Puerto Rico were Medicaments nes, in dosage ($8.03B), Immunological products packings for retail sale ($5.73B), Polypeptide hormones, protein hormones and glycoprotein... ($604M), Orthopaedic appliances, nes ($378M), and Polypeptide hormones, protein hormones and glycoprotein... ($372M).
Top Origin (2022): Ireland, $10B
Top Import (2022): Hetercyclic compounds with pyrimidine ring nes, $4.7B
In 2022 the top import origins of Puerto Rico were Ireland ($10B), Singapore ($1.24B), Mexico ($1.12B), Switzerland ($1.1B), and China ($1.1B).
In 2022 the top imports of Puerto Rico were Hetercyclic compounds with pyrimidine ring nes ($4.7B), Lactams other than 6-hexanelactam ($3.82B), Petroleum spirit for motor vehicles ($1.79B), Sulphonamides; n.e.c. in heading no. 2935 ($1.73B), and Light petroleum distillates nes ($1.06B).
Fastest Growing Import Origins (Mar 2022 - Mar 2023)
Economic Complexity (2022): 0.36
Puerto Rico ranks 18th out of the 53 states and territories in United States according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Puerto Rico already has a comparative advantage, are led by Scented Mixtures (0.058), Nucleic Acids (0.057), Precious Metal Watches (0.056), Chemical Analysis Instruments (0.055), and Scrap Lead (0.055).
The highest complexity exports of Puerto Rico according to the product complexity index (PCI) are Hydrides and other anions (1.72), Sulfonamides (1.32), Vaccines, blood, antisera, toxins and cultures (1.2), Optical Fibers and optical fibre bundles (0.94), Antibiotics (0.89), Orthopedic Appliances (0.88), Packaged Medicaments (0.64), Hormones (0.58), Unpackaged Medicaments (0.36), and Other Precious Metal Products (-0.0016). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Hormones (51.1), Sulfonamides (26.6), Vaccines, blood, antisera, toxins and cultures (22.4), Packaged Medicaments (18.6), and Hydrides and other anions (15.0).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Puerto Rico is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v5.1.15 owl