San José, Costa Rica, since 1956

Costa Rica trade deficit in early months down 62 percent over last year

Costa Rica registered a trade deficit of $363 million in the first two months of 2009, down 62 percent from the same period last year, the Central Bank (BCCR) announced Saturday.

The drop was primarily due to a fall in imports, resulting from the global economic crisis, said the bank.

The country imported $1.7 billion worth of goods in January and February, down from $2.5 billion in those same months in 2008.

Exports were down only 16 percent, from $1.6 billion in 2008 to $1.3 billion this year.

The country closed 2008 with a $5.8 billion trade deficit, a 60 percent increase over the $3.6 billion deficit registered in 2007.

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