July exports were Puerto Rico’s 3rd highest on record

Economic Development and Commerce Secretary Sebastián Negrón Reichard

By THE STAR STAFF

Gov. Jenniffer González Colón and Economic Development and Commerce (DDEC) Secretary Sebastián Negrón Reichard announced Thursday that Puerto Rico’s exports reached a total of $7.1 billion in July. The figure not only marks the highest level of exports recorded so far this year, but is also the second highest in the last 15 years and the third highest in Puerto Rico’s history.

According to the most recent data from the Puerto Rico Statistics Institute, the July export figure reflects a year-over-year increase of 44.3%, or $2.2 billion, compared to July 2024, when exports totaled $4.9 billion. Additionally, Puerto Rico’s trade balance recorded a surplus of $2.4 billion in July of this year, which represents the third consecutive month of positive trade balance growth. That growth underscores the strength of the island’s productive sector and its competitiveness in international markets, the officials said.

The growth in exports for July marks the third consecutive month of increasing export levels. In June of this year, Puerto Rico achieved another record, with exports totaling $6.75 billion, which represents a 45.5% increase, or $2.11 billion, compared to June 2024. For the period from January to July of this year, Puerto Rico recorded $37.9 billion in exports, achieving a positive trade balance of $4.8 billion, with growth rates of 7.2% and 27.3%, respectively, compared to the same period last year.

“The historic export figure we celebrate today is clear evidence that Puerto Rico is on the path to sustainable economic growth,” González Colón said. “Our public policy efforts, combined with the talent of our workforce and innovation in the productive sectors, are yielding results that position the island as a strategic player in global value chains.”

The DDEC secretary emphasized that the record achievement is the result of a comprehensive strategy.

“The results we have seen in July are a response to our strategic reshoring efforts, which involve bringing manufacturing back to Puerto Rico, as well as promoting exports through trade missions conducted by our PromoExport program,” Negrón Reichard said. “These initiatives have opened new markets, strengthened our export base, and diversified key sectors. These efforts are producing positive outcomes, attracting investment, and expanding Puerto Rico’s productive capacity.”

According to the DDEC, the sectors driving the strengthened performance include pharmaceutical manufacturing, medical devices, biotechnology and advanced manufacturing, along with a rise in exports of intermediate goods. The results not only bolster Puerto Rico’s economy but also contribute to the security of the United States supply chain, the agency noted.

The DDEC reiterated its commitment to supporting small and midsize businesses in their export efforts, expanding incentive programs for the export sector, and fostering strategic alliances that ensure the sustainability of economic growth on the island.