Costa Rica: Exports Stagnating

During the first three months of the year, sales of Costa Rican goods abroad totaled $2.757 million, just 0.5% above the $2.744 million reported as of March 2018.

Thursday, April 25, 2019

The most updated data of the Foreign Trade Promoter (Procomer) specify that from January to March of this year the exports of companies in free trade zones registered a 12% year-on-year increase, and in the case of foreign sales of products in final regime fell 9%.

See "Changes in Costa Rican Exports"

Laura Bonilla, president of the Chamber of Exporters of Costa Rica (Cadexco), told Nacion.com that should not be neglected "... the problem with exports from the definitive regime, as there is greater concern about the fall in agricultural products. The effect of the drought has had a negative effect, and it is necessary to grant an amnesty in the legalization and drilling of wells."

Francisco Gamboa, director of the Chamber of Industries of Costa Rica (ICRC), explained that there was a "... 5.4% drop in sales of this type of (industrial) companies that are outside the free trade zones. There is a 16% drop in income from the placement of goods in the food industry."

Previously, CentralAmericaData reported that because production of manufactured and agricultural goods has become expensive in Costa Rica, exports of services are increasingly becoming more important.

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More on this topic

Manufacturing: Costa Rican Exports Decreased 5%

May 2019

The outlook for the country's manufacturing industry is unfavorable, since in the first four months of the year companies outside the free trade zone reported a 5% year-on-year drop in their sales abroad.

Consistent with the behavior reported since the beginning of the year, in the first four months’ sales of Costa Rican goods abroad remained stagnant, totaling $3,693 million, just 0.2% above the figure reported in April 2018.

Exporters: Two Sides of One Coin

January 2019

The increase in Costa Rican exports during 2018 was mainly due to the performance of the 187 companies in the free zone, in contrast to the almost zero growth reported by companies exporting under the traditional scheme.

Figures from the Foreign Trade Promoter of Costa Rica (Procomer) detail that last year Costa Rica's exports totaled $11.312 million, 6% more than that recorded in 2017.

Exports Concentrated in a Few Hands

July 2017

In Costa Rica, 2% of exporting companies accounted for almost 70% of sales made abroad in 2016.

Last year, 76 of the 3,772 companies that sold goods abroad made up almost 67% of the total value exported. Figures from Procomer also show that   "...

Costa Rica: Industrial and Export Figures

May 2016

Industry says that the 7% increase in industrial exports in the first quarter of the year corresponds to free zones, while foreign sales by companies outside of the regime fell by 0.3%.

The industrial association is still blaming the poor results on the loss of competitiveness caused by the exchange rate differential and high production costs.

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