Retail Sector to Grow Slightly in 2018

The fall in the automobile and construction materials sales was determinant in the increase of only 1.6%, which is forecast to close the year by companies in the commercial sector in Costa Rica.

Wednesday, December 5, 2018

Representatives of the Costa Rican Chamber of Commerce (CCCR) reported that expected growth for this year will be only 1.6%, significantly below the 3% average annual increases that have been reported in previous years.

For Alonso Elizondo, executive director of the CCCR, "... Another factor against it was the uncertainty of consumers, a consequence of instability caused by the fiscal situation, increases in interest rates and in the dollar value (exchange rate) and lower credit increase."

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Elizondo explained to Nacion.com that the country's situation "... generated that companies in the commercial sector create 2,094 jobs in the balance sheet (firings vs. new jobs) during this year, while the annual average of this indicator is between 3,000 and 3,200 jobs."

According to guild forecasts, the expectation for 2019 is that the sector could reach a 2.1% growth, which would be caused by an improvement in consumer prospects resulting from the approval of the tax reform.

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December 2019

After recording in 2019 a decline in sales and loss of formal jobs, companies in the commercial sector of Costa Rica predict that during next year their revenues will begin to recover.

The current year has been a year of economic and commercial contraction, mainly because of the loss of consumer confidence and the consequent reduction in sales, which in turn reduced the capacity for investment and employment generation by companies, explains a statement from the Costa Rican Chamber of Commerce (CCCR).

Costa Rica: Commercial Sector Generates Fewer Jobs

September 2019

In the last two years, the number of jobs generated by companies in this sector has fallen 7%, because of the slowdown in the country's economic activity.

According to information from the National Institute of Statistics and Census (INEC), between the second quarter of 2017 and the same period of 2019, the number of jobs in the commercial sector was reduced by 28,621, from 386,597 to 357,976.

New Year's Eve Forecasts for the Retail Sector

December 2018

Businessmen from the commercial sector in Costa Rica expect for the Christmas season a sales behavior like that seen during the Black Friday Weekend.

According to the Chamber of Commerce, the moderate growth of the commercial sector is the result of the uncertainty and economic slowdown that the country is going through, in addition to the increases in interest rates and the exchange rate.

Costa Rica: Retail Sector to Grow 2.8% in 2018

December 2017

The trade association expects to close 2017 with a 3.3% annual growth, and projects a slight deceleration in this activity next year.

Retail activities this year could close with a relatively low growth of just 3.3%, driven in particular by sales of the subsectors of electrical and household products, food, beverages and tobacco, which recorded increases of over 4%. 

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