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%).