Costa Rica Exports Grow in 2012

(Archive Photo)

Although exports grew at 7.8% this October, the growth rate is not the same as 2011 when the sales of Costa Rican goods grew 8% in relation to 2010.

This slower growth rate is due to the global crisis experienced by the main trading partners with Costa Rica during the last seven months.

Costa Rican sales in October totaled $9.4 million, according to data from the Foreign Trade organization PROCOMER. The free trade zone increased from $ 4.4 million to $ 4.9 million, 11.7% more compared to the first 10 months of last year.

The top export products in October include traditional products such as bananas coffee, pineapple and palm oil, and not so traditional products such as medical prostheses, and electrical cables.

Medical exports are expect to continue to rise in the coming years as Costa Rica has seen an increase in that sectors manufacturing over the past few years.

Livestock and fisheries grew 21.5%, and industrial agriculture 9.7%. Non-metallic mineral products such as glass containers, as well as medical and precision equipment, electrical and electronics and plastic also showed excellent growth.

Pineapple exports showed 9.7% an up-tick in growth, mainly due to shipments to the United States and the Netherlands.

The main destination of Costa Rican exports is the United States receiving 39% of Costa Rica’s exports.

Some experts see a future shift as China and Costa Rica continue to strengthen their relationship.

The Costa Rica News (TCRN)
San Jose Costa Rica

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