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Monday, April 22, 2024

Costa Rica exports continue increasing, despite pandemic

Costa Rica tallied more than $2 billion in exports over the first two months of 2021, a 10% increase over the same period last year.

This figure is explained by double-digit growths in the precision and medical equipment (+23%), food industry (+20%), metalworking (+28%) and plastic (+10%) sectors. In addition, the pharmaceutical sector, as well as electrics and electronics, showed increases of 2% and 6%, respectively.

On the contrary, agricultural exports decreased by 9%, livestock and fishing by 9% and rubber by 8%.

“The accumulation of the first two months of the year shows us that the country is heading toward a recovery of the export sector,” said the Minister of Foreign Trade, Andrés Valenciano.

“Although we still have challenges, as in the agricultural sector, the figures motivate us to redouble our efforts and bring that dynamism to all the productive sectors of the country.”

In mid-2020, the Economic Commission for Latin America and the Caribbean (ECLAC) noted only four countries in the region had recorded increases in exports: Costa Rica, Honduras, Guatemala and Nicaragua (14%).

“This is due to a combination of greater sales of medical supplies and personal protective gear, and of agricultural products (the demand for which has been less affected by the pandemic),” their report said, noting “the relative resilience exhibited by intra-Central American trade.”

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