Saturday, 19 September 2020

Costa Rica Exports Fall and Rise

Costa-Rica-Exports(QCOSTARICA) The exit of Intel manufacturing operations in Costa Rica caused a dramatic fall in the exports from free trade zones in the last year.  However, discounting the electronics components sector, imports actually rose 12.7% in the same time period.

The total exports from free trade zones went from ¢2.8 billion colones to ¢1.8 billion a drop of 26.3%.  Besides Intel and electronics components, other sectors also showed a decrease: serums, medical prosthesis, fruit concentrates, electrical supplies, electrical cables, textiles, and clothing.

A cushion from the blow of Intel exports and other sectors falling has been the number of people employed in free trade zones providing services, who earn 73% higher salaries on average than those employed outside of the free trade zones.

Taking away the electronics components sector, exports rose from 1.6 billion colones to 1.8 billion, a 12.7% increase.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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