Costa Rica’s exports grow to record level despite pandemic
Costa Rica’s exports grew 2% in 2020 compared to the previous year, despite the limitations imposed by the Covid-19 pandemic, the government reported Thursday.
The Central American country sold $11.68 billion abroad last year, a record figure, thanks to the diversification of products and markets that allowed it to overcome the difficulties of the pandemic, the Foreign Trade Ministry said in a statement.
“Despite the pandemic, the closure of borders and other barriers, the export sector demonstrated a high capacity for resilience, reinforced by good practices in topics such as diversification of destinations, customers, means of transport and innovation in sales channels,” commented the Minister of Foreign Trade, Andrés Valenciano.
The dynamism of Costa Rican exporters was marked by four sectors, especially precision and medical equipment, with a growth of 8%.
The other sectors that grew the most are the food industry (7%) and pharmaceutical chemicals (14%), as well as agriculture, with a 2% expansion, according to the Foreign Trade Ministry.
The export sector represents 34% of the Costa Rican GDP and employs more than 1 million people, according to official figures.
The dynamism of the export sector made it possible to cushion the economic impact of the pandemic, which led to a projected fall of 4.5% in GDP in 2020.
You may be interested
Costa Rican diet contains too much salt, Health Ministry saysAlejandro Zúñiga - March 9, 2021
The average Costa Rican adult consumes twice the recommended value of salt each day, according to the Health Ministry. Ticos ingest…
Costa Rica creates commission to address gender unemployment gapAlejandro Zúñiga - March 9, 2021
In context of International Women's Day, Costa Rican leaders on Monday signed a decree to create a commission to address…
Vaccinated people don’t have to self-isolate after Covid contactAlejandro Zúñiga - March 8, 2021
People who are fully vaccinated against Covid-19 won’t have to isolate if they are a close contact to someone who…