Puerto Rico: Price Movements of Top Exports and Other Highlights
Total exports for Puerto Rico amounted to $20.7 billion in 2022, a 14.4-percent increase from 2021. Prices for the largest export industry in Puerto Rico, pharmaceutical and medicine manufacturing, decreased in October. Export prices for basic chemical manufacturing and medical equipment and supplies manufacturing declined over the same period.
Top Puerto Rico Exports by Trade Dollar Value, 2022
- Puerto Rico led U.S. exports of pharmaceutical and medicine manufacturing in 2022, accounting for 16.5 percent of the total U.S. trade dollar value.
- Medical equipment and supplies manufacturing was Puerto Rico's second largest export in 2022, representing 6.5 percent of total exports for the island.
- Puerto Rico's top 3 exports accounted for approximately 88.2 percent of the territory's total exports in 2022.
U.S. Export Price Indexes: Pharmaceutical and Medicine Manufacturing
- Pharmaceutical and medicine manufacturing export prices decreased 0.3 percent in October.
- The pharmaceutical and medicine manufacturing export price index rose 2.0 percent from October 2022 to October 2023.
- A 6.0-percent advance in prices for biological product (except diagnostic) manufacturing contributed to the 12-month increase in prices for pharmaceutical and medicine manufacturing.
U.S. Export Price Indexes: Medical Equipment and Supplies Manufacturing
- Export prices for medical equipment and supplies manufacturing declined 0.4 percent in October.
- The index for medical equipment and supplies manufacturing prices rose 3.1 percent over the past year.
- A 5.6-percent advance in surgical and medical instrument manufacturing prices drove the 12-month increase in prices for medical equipment and supplies manufacturing.
U.S. Export Price Indexes: Basic Chemical Manufacturing
- Export basic chemical manufacturing prices fell 0.5 percent in October.
- The price index for export basic chemical manufacturing declined 5.4 percent over the past year.
- A 17.6-percent decline in other basic inorganic chemical manufacturing prices led the 12-month decrease in prices for basic chemical manufacturing.
Top States and Territories in Exports for Pharmaceutical and Medicine Manufacturing, 2022
- The United States exported $98.8 billion of pharmaceutical and medicine manufacturing products in 2022.
- Puerto Rico remained the top U.S. exporter of pharmaceutical and medicine manufacturing in 2022, accounting for 16.5 percent of U.S. exports.
- The 2 highest states, Indiana and North Carolina, accounted for 10.6 percent and 9.5 percent of 2022 U.S. exports of pharmaceutical and medicine manufacturing by trade dollar value, respectively.
New York-New Jersey Information Office • BLSInfoNY@bls.gov • https://www.bls.gov/regions/new-york-new-jersey/ • 646-264-3600
Last Modified Date: November 24, 2023