Intel's exit from Costa Rica last year continues to be the main factor causing negative growth of export products. Exports of services, however, grew for the fourth consecutive year.
Mexican and Costa Rican officials are meeting in Geneva to discuss Costa Rica's ongoing ban on avocados from Mexico and eight other countries because of the “sunblotch” virus. If Mexico is not satisfied with the criteria discussed at the WTO's Phytosanitary Committee, the dispute could move on to arbitration.
Infinito Gold Ltd. listed more than $160 million in working capital deficit including loan principle and interest, according to a statement from the company published on the CNW press wire. “The Company has concluded that it will not be possible for it to continue operations,” the statement concluded.
Exports of all goods from the country dropped from $2.8 billion in the first quarter of 2014 to $2.3 billion this year, according to the latest report. The exit of technology giant Intel still is the main factor negatively affecting export figures.
Can Costa Rica present itself as an advanced, or at least, soon-to-be developed economy, while also keeping one hand out for foreign aid? Some analysts say yes.
Medical devices now lead national exports and showed a considerable 49.5 percent growth in the first two months of 2015 compared to the same time period last year.
Costa Rica exceeded its annual goal for foreign investment by an estimated $300 million in 2014, but new investments weren’t enough to outpace the loss of jobs from companies like Intel and Bank of America that exited the country this year.
The meeting included top potential investors in advanced manufacturing, the food industry, corporate services and life sciences who were presented with investment projects in areas outside of Costa Rica’s Central Valley.
Casa Presidencial and the Foreign Trade Ministry announced Thursday that the government is in discussions with the South Korean company Wells Communications, Inc. to develop a national LED public lighting system that would also provide free wireless Internet.
