Commercial Deficit Up 36.8% in First Quarter
Costa Rica’s commercial deficit grew 36.8% during the first four months of this year compared to the same period last year, reported the Central Bank last week.
Statistics indicate that in the first quarter of this year, the commercial deficit reached $962.4 million, a 36.8% increase over the $703.4 million deficit reported in the first quarter of 2005; however, exports experienced an increase of 16.3% over the $2.2 billion recorded in 2005 to $2.5 billion this year.
The deficit increase is a result of imports registering $3.5 billion, 21.2% more than the $2.9 billion recorded in 2005.
Among Costa Rica’s most successful exports are microprocessors, parts for modular circuits, pineapple, banana, coffee and melon.
The main products imported were prime materials for industry and agriculture and consumer goods.
In 2005, Costa Rica’s imports totaled $9.7 billion, while its exports reached $7 billion, according to the Central Bank.