External Trade for June

Even in the aftermath of natural disasters Irma and María in Puerto Rico there were more exports than imports. This sector recovered to before hurricane levels quickly, the peak in exports after September is just the accumulated inventory. However, compared to 2017, the imports have been increasing while exports are lowering. This is due to the hurricane impact, although our greatest exports are pharmaceutics and medical equipment, the agriculture in the island was almost whipped out entirely and insurance money is slowly entering the sector for its recovery.

May 2018 had the highest level reached this year in exports but compared to May 2017 it is 12% less. On the other hand, 77% of exports are to the U.S. and the new tax policy may have a negative impact on Puerto Rico’s external trade.

Source: PR Trade Company

Source: PR Trade Company

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