Costa Rican exports increase by 8.4 percent in first three quarters of 2012

October 22, 2012

The value of Costa Rican exports increased by 8.4 percent in the first nine months of this year, totaling $8.5 billion, the Foreign Trade Ministry (COMEX) reported on Monday.

Recent figures show consistent growth in exports of free-zone and agricultural products.

According to COMEX, countries with free trade agreements with Costa Rica account for 68 percent of Tico exports so far this year. Costa Rican exports to those countries increased by 8.9 percent in the first three quarters, from $5.2 billion during the same period in 2011 to $5.7 billion this year.

North America (the United States and Canada) is the main destination for Costa Rican exports, accounting for 42.5 percent of total exports (an 8.8 percent increase from 2011). Next is the European Union, with 18.1 percent (a 6.9 percent increase), Central America, with 14 percent (a 6.4 percent increase), and Asia, with 12.8 percent (a 24.6 percent increase).

Central Bank projections show the country is on track to meet – and likely surpass – this year’s export target, estimated at $15.8 billion in goods and services.

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