Costa Rican Exports Up 13 Percent in 2010

The first five months of 2010 have been good for Costa Rican exports, which have increased 13 percent overall in comparison with the same period last year. Thus far, Costa Rican exports have raked in over $4 billion, including revenues of more than $854 million in May, according to the Foreign Trade Promotion Office (Procomer).

The three major export sectors – industry, agriculture and fishing – all have reported significant gains over last year. Industrial exports, which include value-added food products and manufactured goods, have accounted for over 72 percent of total Costa Rican exports so far this year.

In the industrial sector, computer parts and microprocessors continue to be Costa Rica’s largest grossing exports, generating more than $627 million in sales through the first five months of the year. Computer part and microprocessor exports, dominated by the multinational technology giant Intel Corporation, accounted for over 15 percent of exports.

Agricultural exports also started strong this year, accounting for more than 25 percent of the total. The improved overseas sale of produce items has been led by pineapples, which is up 62 percent compared to the same period in 2009. Banana exports have increased 49 percent, while coffee exports are up 17 percent. Costa Rica is the world’s leader in pineapple exports and third in banana exports.

The U.S. remains the leading destination for Costa Rican products, accounting for 36 percent of all exports, or $1.45 billion so far this year. The Netherlands, Hong Kong, China and Panama round out the top five destinations for Costa Rica’s exports, with the Netherlands the only other country to receive over 5 percent of Costa Rica’s exports (6.8 percent).

–Adam Williams