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Costa Rican Exports Continue Upward Trend

March 26, 2010

The first two months of the year have been good to the Costa Rican export industry, as the Foreign Trade Promotion Office (PROCOMER) announced Friday that exports have increased 13.8 percent compared to the first two months of 2009.

Costa Rica’s January and February exports totaled nearly $1.5 billion in goods and services, including $766 million in February.

The leading export sectors for 2010, so far, are electric products and electronics that accounted for 29 percent of total exports in the two-month period, the agricultural sector (23 percent) and food industry products (13 percent).

According to PROCOMER, the most increases in exports have been seen in juices and fruit concentrates, salsas, computer parts and electric cables. Costa Rica also has seen strengthened demand for bananas and pineapples, two of the country’s chief agricultural exports. The export of bananas is up by 28 percent over last year, while the demand for pineapples has jumped by 14 percent. PROCOMER also reported that the export of medical prosthetic devices has risen by 28 percent.

“The performance of Costa Rican exports again reflects growth,” said Emmanuel Hess, general manager of PROCOMER. “This is something we expect to sustain over the course of the year due to the variety of products offered in the Costa Rican export market.”

Of Costa Rica’s exports this year, 39 percent have made their way to North America, while exports to the European Union and within Central America each accounted for 18 percent of the market. Exports to China and Singapore also have increased substantially this year. Goods and services sent to Singapore have risen 78 percent compared to a year ago, while exports to China are up 26 percent. Costa Rica is in the process of establishing free-trade agreements with both Asian nations.

–Adam Williams

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