Costa Rica Trade Takes Advantage of Germany's World Cup Champion Status

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    The Costa Rica News (TCRN) – Germany may be considered a champion, in the global economy, and Costa Rica has the fifth position in the total exports to the European Union.

    This means that for domestic production, Germany is an attractive market for business exchange products.

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    But why is this nation seductive for Costa Rican commercial intentions?

    The country has the largest economy in Europe with a GDP (Gross Domestic Product) in 2005 of prices amounting to $3.087 billion in 2012 and represents 21% of the entire economy of the European Union, according to the Bank World.

    The teutonic economy today has the captain Angela Merkel, Federal Chancellor of Germany, and who is also the number one most influential woman in the world, according to the ranking by Forbes this year.

    The German performance has as its strength its domestic market in technological advances and the quality of their products and in their export sector, Germany is also aggressive in its trade relations with its neighbors in the European Union; its trade represents 60.6% of the economy in 2012.

    On the behavior of the German unemployment it was only 5.3% in 2013 and an inflation of 1.6% last year, according to the International Monetary Fund (IMF).

    In regard to competitiveness, according to a survey by Ernst & Young, the country is currently the favorite in Europe for investment, as it has a domestic market that draws attention to entrepreneurs to expand operations.

    However, in the Doing Business 2014 report, conducted by the World Bank, the situation is not as favorable as it was at the number 21 position ranking globally, and in eighth place in European countries.

    Trade relations between Costa Rica and Germany

    With the growth of the German economy in the past two decades – despite the financial crises – Costa Rica has taken out the economic champion.

    According to report of the Foreign Trade of Costa Rica (Procomer) Germany ranks fifth in total exports to the European Union.

    “Germany is the destination 17 of domestic shipments, worth USD 117.2 million, and ranks fifth among members of the European Union (corresponding to 5.8% of total exports from Costa Rica to this block). More than 154 companies exported to this market and among the main exported products are bananas, coffee gold, cinematographic cameras and projectors,”said Ariana Tristan, Market Research Coordinator of Procomer.

    Tristan also explains that in terms of Costa Rican imports from Germany there are mainly cars, drugs and antisera.

    Compared to the other finalists of the World Cup in Brazil, Argentina represents 6.8 million USD for Costa Rican exports.

    Costa Rican products sold in lands of Diego Armando Maradona are doctors, gaskets and rubber tire devices. And Costa Rica imported from the South American country mainly yellow corn, soybeans and medicines, Procomer indicated.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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