Exporters: Two Sides of One Coin

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.

Monday, January 28, 2019

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.

See "Costa Rica: Exports Up 6% in 2018"

The report states that in 2018 exports of precision and medical equipment, whose manufacturers are mostly in free trade zones, represented 29% of total sales, and recorded an 18% increase compared to what was reported in 2017.

Laura Bonilla, president of Cadexco, told Crhoy.com that "... We highlight the great dynamism presented by the free zone regime, especially by the increase in the participation of advanced manufacturing industry. This regime composed of 187 companies, showed a 13% growth. Meanwhile, the definitive regime made up of 2,253 companies, in other words, most exporting companies in the country, only grew by 1%."

Among the factors that influenced the growth of foreign sales of most companies were minimal, the political crisis in Nicaragua and the strike of trade unions in Costa Rica stand out, since several exporters went from increases of 6% to 1%.

Also see "Figures from the Crisis" and "How Much the Strike Cost to the Economy?"

Regarding the actions that should be taken to change this behavior, Bonilla explained that "... This result must be reverted by means of actions in the short term that allow greater international promotion of the added value of agricultural products, as well as by means of greater facilities and accompaniment to enter important markets that allow better performances in this sector."

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Costa Rica: Exports Stagnating

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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.

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The complex economic and political situation that has affected Nicaragua since April continues to affect Central America, where exporters report losses of $45 million.

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From a statement issued by Cadexco:

Costa Rican Exporters Demand Action from Government

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The Chamber of Exporters demanded the next administration greater commitment with the exporting sector.

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