San José, Costa Rica, since 1956
Exports

Medical devices top Costa Rica’s export sales in early 2015

Costa Rica’s medical device industry started this year strong, with a 54 percent growth in exports over last year, according to a report from the Foreign Trade Promotion Office. That places these products at the top of goods exported by Costa Rica so far in 2015.

The country exported $97.3 million worth of medical devices in January 2014, while the figure reached $149.9 million in January 2015.

The total value of Costa Rica’s exports in January was $725.6 million, an increase of 2.9 percent compared with the same month last year.

Foreign Trade Vice Minister John Fonseca Ordóñez said the closure of Intel’s chip assembly plant last year generated a harsh impact on the country’s exports. However, “the sustained growth in sales, mostly of medical devices but also in other sectors, is offsetting the negative numbers,” he said.

Other export products that showed strong growth in January were melons, with 51.8 percent growth, green coffee with 47.7 percent growth, beef with 39.8 percent growth and ornamental plants with 6.2 percent growth.

PROCOMER general manager Pedro Beirute Prada said he was pleased but cautious about the results.

“Even though the growth recorded in exports of medical devices is very positive, we should urgently seek ways to boost all our export sectors in order to improve the country’s competitiveness,” he said in a statement.

Costa Rica last month exported a total of 2,119 products to 106 countries. The U.S. remains the main destination for Tico products with a share of 41.8 percent.

The January report also highlights a 52 percent growth in exports to Asia, driven by increased sales of medical devices, as well as televisions, radios and electronic components.

Medical devices also boosted total exports to the European Union: sales to that region rose by 8.8 percent, according to PROCOMER.

Last year, the medical device sector grew 20 percent over 2013.

 

Contact L. Arias at larias@ticotimes.net

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ronaldsalazar

It’s a great news… cheers for Costa Rica’s medical device industry!

Advance medical devices have given a new turn to medical industry as all those test those were time consuming as well as painful in earlier days, has now become easier. This thing has given immense reimbursement, not just to public but also to doctors. Costa Rica is one of the ideal faces amongst the various reliable medical device suppliers. For example, see ilexmedical[dot]com. Well, it’s my healthy wishes for Costa Rica to retain in market with same or better position.

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MarcoGreen

Thanks for the information.

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Ken Morris

Well, these are intra-corporate exports, so not the same thing as Tico businesses exporting.

The flip side is that according to another TT story we have to suspect that the value of the exports is falsely low. That story had it that some 80-90% of something like $9 billion in cash coming into the country is hidden by invoices on exports that are fudged. Some real companies have to be doing this to get this kind of number.

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