In 2019, exports of goods are estimated to total nearly $11.526 million, barely 2% higher than reported in the previous year, and far from the 6% increase recorded in 2018.
According to estimates by the Ministry of Foreign Trade, foreign sales of services registered greater dynamism last year, since between 2018 and 2019, they went from Ch$9,090 million to Ch$9,565 million, equivalent to a 5% increase.
Procomer, an entity that leads since 2016 the project of the Unique Investment Window in Costa Rica, says that 12 procedures related to the opening of companies and entry into the free zone regime, are already in the testing phase.
The aim of the Foreign Trade Promoter (Procomer) is to integrate in a single digital process, the more than 68 procedures that currently must be carried out in different ministries and municipalities to open and operate a business in Costa Rica.
The cultivation, processing and export of coconut and its derivatives, and the transformation of goat activity focused on the manufacture of personal care and health products, are some of the proposals for Costa Rican agriculture to generate greater added value.
A study conducted by FUNDES Strategy identifies new opportunities for Costa Rica's agricultural sector.
From January to September 2019, sales of the agricultural sector abroad totaled $2,080 million, 7% less than in the same period in 2018, mainly because of the performance of banana, pineapple and coffee exports.
Figures from the Foreign Trade Promoter (Procomer) detail that between the first nine months of 2018 and the same period of 2019, exports registered a slight increase, going from $8,490 million to $8,629 million.
Since Costa Rica suspended the entry of Hass avocado from Mexico, countries such as Chile, Peru and Nicaragua have taken advantage of the situation to increase their exports to the Costa Rican market.
The dispute that is still unresolved dates back several years, when in May 2014 the Costa Rican authorities decided to ban the import of avocado from Mexico, arguing the existence of the disease called sunspot. See history of the conflict.
Between 2017 and 2018, honey production increased by 5%, and according to businessmen there are opportunities for the sector to continue on the right path, because in the Costa Rican market there is still demand that can not be met with local production.
The Agricultural Statistical Bulletin, prepared by the Executive Secretariat of Agricultural Sector Planning, states that between 2017 and 2018 production grew from 1,128 to 1,180 metric tons.
Businessmen in the sector expect that this year's foreign sales of medicines will maintain the positive trend, consistent with the upward trend shown in the last four years.
Data from Procomer of Costa Rica, specify that in recent years’ exports of medicines have recorded positive year-on-year variations, with the highest reported between 2017 and 2018, when sales grew from $159 million to $184 million, equivalent to an increase of 16%.
The outlook for the country's manufacturing industry is unfavorable, since in the first four months of the year companies outside the free trade zone reported a 5% year-on-year drop in their sales abroad.
Consistent with the behavior reported since the beginning of the year, in the first four months’ sales of Costa Rican goods abroad remained stagnant, totaling $3,693 million, just 0.2% above the figure reported in April 2018.
The decline in exports of the agricultural sector reported in the first quarter, coupled with the lack of rainfall, has caused that the beginning of the year has not been the best for businessmen in Costa Rica.
Figures from the Costa Rica Foreign Trade Promoter report that between the first quarter of 2018 and the same period in 2019, exports from the agricultural sector were down by $107 million.
The strong growth reported in past years in foreign sales of frozen fruit from Costa Rica has declined, a situation that businessmen believe is because of market saturation.
According to data from the Foreign Trade Promoter (Procomer), between 2016 and 2017 foreign sales of frozen fruit grew 21%, from $65 million to $79 million, but for the period between 2017 and 2018 the increase was just 1%, going from $79 million to $80 million.
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.
The most updated data of the Foreign Trade Promoter (Procomer) specify that from January to March of this year the exports of companies in free trade zones registered a 12% year-on-year increase, and in the case of foreign sales of products in final regime fell 9%.
Because it has become expensive in Costa Rica to produce manufactured and agricultural goods, exports of services are increasingly gaining in market share.
Figures from the Promotora de Comercio Exterior (Procomer) detail that of the total exports in 2018, 56% corresponded to sale of goods and 44% to services. This composition is far from the figures of a decade ago, since in 2008 exports of goods monopolized 62% and services 38%.
During the first two months of the year, Costa Rican exports to countries in the region totaled $393 million, 3% less than what was reported for the same period in 2018.
According to data from the Promotora del Comercio Exterior (Procomer), in the first two months of 2019 Costa Rica's exports increased by 3.2% over the first two months of 2018, going from $1.743 million to $1.800 million.
Although exports have tripled in the last three years, mainly because of increased sales of medical equipment, sugar, ethyl alcohol and meat, the business sector's expectations are not as optimistic.
Data from the Foreign Trade Promoter (Procomer) specify that in 2016 Costa Rican exports to China totaled $46 million, in 2017 registered $111 million, and in 2018 rose to $200 million.
Between 2017 and 2018, milk sales from Costa Rica to Panama fell 24%, explained by increased competition, while exports to Guatemala and the Dominican Republic increased 21% and 13%, respectively.
According to figures from the Promotora del Comercio Exterior (Procomer), between 2017 and 2018 sales to Panama of milk and cream not concentrated and concentrated registered a 24% decline, falling from $7.5 million to $5.6 million. The main reason behind this behavior seems to be an increase in international competition in the Panamanian market.
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