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Exports down 7.9% in 2020

Intelligent Economics > Analysis > Exports down 7.9% in 2020

Exports originating in Puerto Rico totaled $3.343 billion in February of 2021, while imports reached $4.387 billion. Compared to the previous month of January, exports increased by $1.337 billion, or 43.9%, while imports increased by $136 million, or 4.2%. Compared to February 2020, exports have decreased by $1.285 billion, or 22.6%, while imports have decreased by $288 million, or 7.9%.

Exports in 2020 totaled $59.8 billion, while imports reached a total of $42.5 billion. Compared to 2019, exports fell by $5 billion, or 7.9%, while imports fell by $4.1 billion, or 8.9%.

Exports for the year to date total $7.4 billion while imports have totaled $6.5 billion. Compared to 2020, exports have gone down by 18.9%, while imports have decreased by 14.4%.

Due to the general state of both the island’s and the world’s economy, total trade has been weak in the first 2 months of 2021. As vaccinations proceed and the economy moves back towards pre-pandemic normalcy, we can expect year over year comparisons to show a slight decrease in total trade.

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