Costa Rica: Food industry Exports Down 14%

Foreign sales in the first four months of the year totaled $467 million, below the $543 million generated from sales abroad in the same period in 2013.  

Tuesday, May 27, 2014

The cost of electricity, changes in the exchange rate, the price of raw materials and competition from informal firms are part of the factors that explain part of the drop in foreign sales in this industry.

"The Executive Director of the Costa Rican Chamber of the Food Industry (CACIA), Mario Montero, said that for the last few months a slowdown has been seen that is more due to internal than external factors and these are the same factors that they chamber has been highlighting." "In addition, in recent years, Costa Rica has become an increasingly expensive country for industrial production."

In relation to the export performance of the industrial sector in general, " ... a drop of $59.8 million was reported in the first quarter of the year, according to the Foreign Trade Office (Procomer), going from $2,826.5 million in 2013 to $2,766.7 million in the current year. "

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