Costa Rica business brace for crisis

Companies exporting to the US are seeking new markets and emphasizing the efficiency of their operations.

Tuesday, October 7, 2008

Some are diversifying their markets and are looking for clients in the Caribbean, Central America and even in South America; others are highlighting the production efficiency that help to reduce costs.
The companies that have felt the impact of the economic slowdown in the US agree that sales have been dropping for the last three months.

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Despite recession, US continues to be a good market for Central America

October 2008

The chief economist at the Central American Bank for Economic Integration (BCIE), Pablo Rojas, said that the regions possibilities for export to the United States continue to be favorable despite the economic recession that is affecting the country to the north.

"Exports to the United States have continued to grow at the same rate as in 2007 according to the latest data from sources in United States as well as from Central America," he said.

Hard economic times may just be starting

October 2008

The finantial crisis in USA will especially hurt Mexico and Central America, whose economies are closely tied to the U.S. market.

Don't be fooled by the universal sigh of relief that was heard Friday when the U.S. Congress approved a $700 billion package to rescue the U.S. banking system.

Salvadoran exporter fear repercussions from US crisis

October 2008

According to a survey by the export union, its members fear that they will be affected by the crisis in the US in the short term.

37% of businessmen believe that in the next three months their sales will drop by up to 15%, while two of 10 estimate that at the end of 2009 their business with the US will decrease by 20%.

Salvadoran exports increase despite crisis

September 2008

Exporter and the government expect that demand will not dry up due to the global situation.

The president of the Salvadoran Corporation of Exporters (Coexport), Vilma Calderon, explained that this behavior is rare. "Exports have not fallen at all, instead they have increased by 20% as of August, they are three times the growth rate for 2007 when we grew 7.5%.

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