Unclear Future for the Commercial Sector

In Costa Rica, businessmen in the sector do not clearly see what the economic direction of the country will be, since the levels of unemployment and informality in small and medium enterprises are still rising.

Thursday, February 13, 2020

The proportion of unemployed people in the country closed 2019 upwards, as between the third and fourth quarters of 2019 the open unemployment rate rose from 11.4% to 12.4%, an increase that can be explained partly by the rise in women's unemployment.

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Another aspect that concerns the directors of the Costa Rican Chamber of Commerce is that many small and medium-sized enterprises (SMEs) operate in the informal sector.

Regarding the actions of the government, Yolanda Fernández, president of the union, told Elobservador.cr that "... I do not see clarity; I would like to be able to say that there is clarity in what is going to happen. Taking action is not popular, one cannot access any decision-making position in Costa Rica to be popular."

Fernandez added that "... The street is full of informality. That is the critique, we try to tell the government to listen to what we are saying. I do not see what accompaniment they are doing to the SMEs, and I insist on the small and medium enterprises because it is 90% of the business park in this country."

The decrease in the minimum contribution base of the Costa Rican Social Security Fund (CCSS) as well as an amnesty for small and medium enterprises (SMEs) that are in an informal mode, are the requests that the House has made to the government.

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More on this topic

Retail: What to expect in 2020?

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.

Bad Times for the Retail Sector

June 2019

In Costa Rica, the retail sector is going through one of its worst moments in recent years, since several jobs have been lost and local unemployment is increasing.

Figures from the Economic and Social Observatory of the National University (UNA) show that the commercial sector has lost 15,446 jobs in recent years as a result of the slowdown in consumption in the country.

Costa Rica: Better Perspectives for the commercial sector

December 2015

The perspectives of companies in the commercial sector registered an improvement at the end of the year and by 2016 the industry expects to grow by about 4%.

From a statement issued by the Chamber of Industries of Costa Rica:

The Chamber of Commerce of Costa Rica, has made a brief review of the performance of the sector during 2015, and presents trader's expectations for 2016.

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