Exporters: Time to Seek New Markets

Most of Costa Rica's traditional export markets are depressed, so exporters must find new ones.

Friday, July 5, 2013

During the first five months of 2013, exports of goods fell by 3%, unlike other years, such as 2011, when foreign sales reported an increase of 7.6%, and 2012, when the hike was 13.1%.

Sales to the U.S., Costa Rica's top export destination, with 38% of total exports, have been stagnant since October 2012. "Other destinations such as Central America, which accounts for 19% of exports, are also still under performing, and new frontiers such as China, (...) also have a negative trend," noted an article in Revistamyt.com.

According to the president of the Chamber of Exporters, Monica Segnini, "when doors close on us, we go out looking where to open new ones, in this respect, we never rest, we are constantly carrying out market research. In June we had an aggressive agenda in the South American market. There were many entrepreneurs who saw business opportunities in Colombia, we are going to do the same thing with Peru and Chile, this is a way of compensating. "

Similarly, work is being done on providing technology and training for the sector, in addition to eliminating middlemen in the marketing chain so that small businesses can export directly and do not lose out due to their "lack of muscle", in order to alleviate the crisis.

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