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Import/Export Price Indexes

Puerto Rico: Price Movements of Top Exports and Other Highlights

May 2024

Photo of a fort in San Juan, Puerto Rico

Total exports for Puerto Rico amounted to $22.5 billion in 2023, a 9.2-percent increase from 2022. Prices for the largest export industry in Puerto Rico, pharmaceutical and medicine manufacturing, advanced in April. The export price indexes for medical equipment and supplies manufacturing and navigational, measuring, electromedical and control instruments also advanced over the same period.

Top Puerto Rico Exports by Trade Dollar Value, 2023

  • Puerto Rico led U.S. exports of pharmaceutical and medicine manufacturing in 2023, accounting for 16.4 percent of the total U.S. trade dollar value.
  • Medical equipment and supplies manufacturing was Puerto Rico's second largest export in 2023, representing 7.1 percent of total exports for the island.
  • Puerto Rico's top 3 exports accounted for approximately 89.7 percent of the territory's total exports in 2023.

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

  • Pharmaceutical and medicine manufacturing export prices increased 0.2 percent in April.
  • The pharmaceutical and medicine manufacturing export price index fell 1.3 percent from April 2023 to April 2024.
  • A 7.3-percent decrease in prices for pharmaceutical preparation manufacturing led the 12-month decline 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 advanced 1.2 percent in March.
  • The index for medical equipment and supplies manufacturing prices rose 4.0 percent over the past year.
  • An 8.4-percent increase in prices for surgical and medical instrument manufacturing led the 12-month advance in prices for medical equipment and supplies manufacturing.

U.S. Export Price Indexes: Navigational, Measuring, Electromedical and Control Instruments

  • Export navigational, measuring, electromedical and control instruments prices increased 0.1 percent in April.
  • A 1.3-percent increase in analytical laboratory instrument manufacturing export prices led the April rise in prices for export navigational, measuring, electromedical and control instruments.
  • The price index for export navigational, measuring, electromedical and control instruments advanced 1.3 percent over the past year.

Top States and Territories in Exports for Pharmaceutical and Medicine Manufacturing, 2023

  • The United States exported $108.9 billion of pharmaceutical and medicine manufacturing products in 2023.
  • Puerto Rico remained the top U.S. exporter of pharmaceutical and medicine manufacturing in 2023, accounting for 16.4 percent of U.S. exports.
  • The 2 highest states, Indiana and North Carolina, accounted for 15.0 percent and 10.2 percent of 2023 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: May 30, 2024