The Costa Rica News (TCRN) – The sectors that have achieved the best growth figures since the economic crisis (2010) are hospitality which reached 7% and agriculture with 6.10%, as recorded from the Monthly Index of Economic Activity (MIEA).
These sectors, according to economists of Pulse Market of Aldesa Values, were the hardest hit by the global economic downturn, mainly by the fall in prices of agricultural goods, the decline in the exchange rate at the national level and the higher costs of electricity and other fixed costs.
The tourism sector also saw a decline mainly due to the recession that the United States and other countries experienced which are the main visitors of Costa Rica.
The president of the National Chamber of Agriculture and Agribusiness (CNAA), Juan Rafael Lizano, mentioned that despite the numbers they have not yet emerged from the crisis and require more government support, especially in the aspects that represent more costs like electrical energy, infrastructure and red tape.
The activity of the Costa Rican economy has gained traction month to month, reaching a growth of 4.64% at the end of April, according to the latest data from IMAE.
This increase is the best in over 6 months and both March and April exhibit growth rates of over 6% monthly.
Although the growth rate of national economic activity measured by IMAE is similar to levels observed by mid-2013, the interesting thing is that the composition on which the current data is based, differs greatly from that of other occasions.
Last year, the economic activity in FTZs explained much of the growth, while currently the Manufacturing industry shows a growth of 2.6%, one of the three lowest in the 13 sectors that make up the IMAE.
This slower growth was evidenced by the economist Roxana Morales of the School of Economics, National University, who said that free zones have been losing weight in economic activity and that is because the economy has been diversifying.
The Costa Rica News (TCRN)
San Jose, Costa Rica