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Import/Export Price Indexes

Puerto Rico: Price Movements of Top Exports and Other Highlights

July 2021

scenery in Puerto Rico

The export price indexes for the United States include Puerto Rico and other U.S. territories. Total exports for Puerto Rico amounted to $16.6 billion in 2020. That was a 19.0-percent decline from 2019 when exports totaled $20.5 billion. Export prices for pharmaceutical and medicine manufacturing recorded no change from March to June. The export price indexes for basic chemical manufacturing and medical equipment and supplies manufacturing both increased over the same period.

Top Puerto Rico Exports by Trade Dollar Value, 2020

  • Puerto Rico led U.S. exports of pharmaceutical and medicine manufacturing in 2020, accounting for 19.3 percent of total U.S. exports.
  • Medical equipment and supplies manufacturing was Puerto Rico’s second largest export in 2020, representing 6.9 percent of total exports for the island.
  • Puerto Rico’s top 3 exports accounted for approximately 88.5 percent of the territory’s total exports in 2020.

U.S. Export Price Indexes: Pharmaceutical and Medicine Manufacturing

  • Pharmaceutical and medicine manufacturing export prices recorded no change over the past quarter.
  • The pharmaceutical and medicine manufacturing export price index rose 2.3 percent over the last 12 months.
  • A 1.3-percent increase for in-vitro diagnostic substance manufacturing contributed to the 12-month growth in export prices for pharmaceutical and medicine manufacturing.

U.S. Export Price Indexes: Medical Equipment and Supplies Manufacturing

  • Export prices for medical equipment and supplies manufacturing grew 1.0 percent over the last 3 months.
  • The quarter-to-quarter rise was driven by a 1.6 percent increase in prices for export surgical and medical instrument manufacturing.
  • Over the past 12 months, prices for medical equipment and supplies manufacturing exports rose 2.0 percent.

U.S. Export Price Indexes: Basic Chemical Manufacturing

  • Export basic chemical manufacturing prices increased 11.8 percent over the past quarter.
  • The quarter-to-quarter advance in basic chemical manufacturing export prices was the largest since the index increased 21.5 percent over the period ended May 2021.
  • The price index for export basic chemical manufacturing rose 31.0 percent for the 12-month period ended in June.

Top States and Territories in Exports for Pharmaceutical and Medicine Manufacturing, 2020

  • In 2020, the United States exported roughly $66.9 billion of pharmaceutical and medicine manufacturing products.
  • Puerto Rico remained the top U.S. exporter of pharmaceutical and medicine products in 2020.
  • The next 2 highest states, Indiana and California, accounted for 12.4 percent and 11.3 percent of U.S. exports of pharmaceutical and medicine products by trade dollar value.

 

New York-New Jersey Information Office • BLSInfoNY@bls.gov • https://www.bls.gov/regions/new-york-new-jersey/ • 646-264-3600 

 

Last Modified Date: July 22, 2021