Costa Rica badly hit by worsening terms of trade
Costa Rica has been paying more for its imports in recent years while the prices of its exports have failed to keep pace.
Friday, July 18, 2008
Taking the year 2000 as a basis of 100, Costa Rica's terms of trade fell to 91.9 in 2004 and 84 last year, said Finance Minister Guillermo Zúñiga. "And if we measure it now, I'm sure the figure will be lower still," he added.
Costa Rica's trade deficit in May was a record $601 million. Exports were US$889 million against imports of US$1.5 billion.
The country maintains a negative trade balance, even after signing seven Free Trade Agreements (FTA).
The difference between the country's imports and exports diminished 32.8% in the first 7 months of the country when compared to the same period of 2008.
Up to the month of October the trade deficit was $3.958,2 million, $728,8 million more than in the same period in 2010.
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