Costa Rica Trade Deficit Narrows

May 29, 2009

Costa Rica’s trade deficit in the first four months of this year has fallen 66 percent from the rate registered during the same period last year, as imports fell more quickly than exports, according to data released last week by the Central Bank.

From January through April 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. That represents a substantial change from the more optimistic projection in January of 2.2 percent growth at year’s end. The bank chief also said inflation will reach 8 percent.

– EFE

 

You may be interested

Strong winds cause three deaths in Costa Rica, one in El Salvador
Weather
1134 views
Weather
1134 views

Strong winds cause three deaths in Costa Rica, one in El Salvador

AFP - December 10, 2017

Three people have died in Costa Rica, includiing two Swiss tourists, and one in El Salvador as a result of…

6 camouflaged Costa Rican creatures you probably haven’t seen
Environment and Wildlife
2024 views
Environment and Wildlife
2024 views

6 camouflaged Costa Rican creatures you probably haven’t seen

Lindsay Fendt - December 9, 2017

The jungle can be a scary place, and even for some of the fiercest of Costa Rica’s creatures, sometimes the…

National Geographic-Lindblad Expeditions ship makes first visit to Osa Peninsula
Cruises
1929 views
Cruises
1929 views

National Geographic-Lindblad Expeditions ship makes first visit to Osa Peninsula

The Tico Times - December 8, 2017

National Geographic and Lindblad Expeditions touched down for the first time on Costa Rica's renowned Osa Peninsula this week for…