Changes in Costa Rican Exports

Because it has become expensive in Costa Rica to produce manufactured and agricultural goods, exports of services are increasingly gaining in market share.

Tuesday, April 23, 2019

Figures from the Promotora de Comercio Exterior (Procomer) detail that of the total exports in 2018, 56% corresponded to sale of goods and 44% to services. This composition is far from the figures of a decade ago, since in 2008 exports of goods monopolized 62% and services 38%.

You may be interested in "Exporters: Two Sides of One Coin"

Among the reasons for this change in the export model, economist Luis Mesalles, explained to that "... the national productive sector, especially agriculture and manufacturing, has become uncompetitive, because Costa Rica has become expensive, and competing with little sophistication or goods with little added value costs us more and more."

Also see "Costa Rican Exports to China Rebound"

Regarding the growth of exports, figures show that last year sales of goods rose 6.2% year-on-year and those of services 4.5%.

Pedro Beirute, manager of Procomer, said that "... If the current pace of dynamism of both sectors is maintained, we will have to wait approximately 20 years for the value exported in services to be greater than that of goods.

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