Costa Rica trade deficit narrows

May 22, 2009

Costa Rica´s trade deficit has fallen 66 percent from the rate registered during the same period last year, as imports fell more quickly than export numbers, according to data released Friday by the Central Bank.

In the first four months of this year the trade deficit reached $617.6 million, far below the more than $1.8 billion registered after four months into 2008.

Imports are at almost $3.4 billion, a more than 30 percent drop from the $5.1 billion in imports registered through April 2008.

Exports also continued to tumble – albeit more slowly – grossing less than $2.8 billion, about 15 percent below the almost $3.3 billion in goods exported during the same period last year.

The news came after Central Bank President Francisco De Paula Gutiérrez once again readjusted the bank´s economic outlook for 2009.

The economy will contract 1.8 percent, he said Thursday, a substantial change from a more optimistic projection in January of 2.2 percent growth at year´s end. The bank chief also said inflation will reach 8 percent.

You may be interested

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada
Please Send Coffee!
701 views
Please Send Coffee!
701 views

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada

Gustavo Díaz Cruz - December 14, 2017

My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…

Response to disaster: aid successes, struggles in post-Maria Puerto Rico
Weather
827 views
Weather
827 views

Response to disaster: aid successes, struggles in post-Maria Puerto Rico

John McPhaul - December 13, 2017

As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…

Looking back at Hurricane Maria: the initial impact
Weather
1901 views
Weather
1901 views

Looking back at Hurricane Maria: the initial impact

John McPhaul - December 12, 2017

As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…