Costa Rican Exports Increase by 3.5 Percent in First Quarter

Naturewalk Report on Business

Originally  Posted: Monday, April 22, 2013 - By L. Arias Tico Times

The U.S. is the main destination for Tico products.

Costa Rican exports of goods during the first quarter of 2013 slightly surpassed $3 billion, which is 3.5 percent more than that recorded for the same period last year, when the figure reached almost $2.9 billion, the Foreign Trade Ministry said on Monday.

Trade Minister Anabel González said in a press release that "the international economic situation is not the best," and Costa Rica should keep looking for new markets in Latin America and Asia.

"We must take advantage of opportunities in regions and countries where we have established a trade platform, and where growth rates are more robust, such as those in Asia, Perú, Chile and Colombia," González said.

The report indicates that Intel microprocessors lead the numbers with $776.9 million in export revenue, an increase of 24.8 percent compared to the first quarter of 2012.

North America – primarily the United States – is the main destination of Costa Rican exports with a share of $1.3 billion, followed by the European Union with $583.4 million and Asia with $427.8 million.

In 2012, Costa Rican exports totaled $11.2 billion, an increase of 9 percent compared to the figures recorded in 2011.

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Costa Rica’s First Quarter Inflation Reaches 2.46 Percent

Naturewalk Report On Business

Accumulated annual inflation is 4.21 percent higher than a year ago.

By L. Arias (Tico Times)

Accumulated inflation in the first quarter of this year reached 2.46 percent, 0.86 percent more than the same period in 2012, the National Statistics and Census Institute (INEC) reported on Tuesday.

INEC's report indicates that goods and services that most influenced inflation were fuel, taxi fares and rental housing.

Inflation during March was 0.11 percent, the second lowest in the last decade for that month, behind the 0.01 percent in 2009.

The yearly indicator, which is accumulated from April 2012 to March 2013, reached 6.21 percent, up 4.21 percent from the same period last year.

Costa Rica ended 2012 with an inflation rate of 4.55 percent, the second-lowest figure in the last decade, behind cumulative 4.05 percent in 2009.

The Central Bank of Costa Rica set the inflation goal for 2013 between 4-6 percent. 

For more articles about retiring and/or investing in Costa Rica contact Naturewalk Brands by calling our toll free number (in Canada and U.S.A): 1-866-990-1123.