Costa Rican exports continue strong upward trend

March 19, 2010

The first two months of the year have been good to the Costa Rican export industry, as the Foreign Trade Promotion Office (PROCOMER) announced Friday that exports have increased 13.8 percent in comparison to the first two months of 2009. Through January and February, Costa Rica has exported nearly $1.5 billion in goods and services, including $766 million in February.

The leading export sectors for 2010 so far have been electric products and electronics, which have accounted for 29 percent of total exports, the agricultural sector (23 percent) and food industry products (13 percent).

According to PROCOMER, the biggest increases in exports have been seen in juices and fruit concentrates, salsas, computer parts and electric cables. Costa Rica has also seen strengthened demand for banana and pineapple, two of the country´s chief agricultural exports. The export of bananas is up 28 percent over last year, while the demand for pineapple has jumped 14 percent. PROCOMER also reports that the export of medical prosthetic devices has also risen 28 percent.

“The performance of Costa Rican exports again reflects growth,” said Emmanuel Hess, the general manager of PROCOMER. “This is something we expect to sustain over the course of the year due to the variety of products offered in the Costa Rican export market.”

Of Costa Rica´s exports this year, 39 percent have made their way to North America, while exports to the European Union and within Central America each account for 18 percent of the market. Exports to China and Singapore have also grown substantially in 2010. Goods and services sent to Singapore have risen 78 percent since a year ago, while exports to China are up 26 percent. Costa Rica is in the process of establishing free-trade agreements with both Asian nations.

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