(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.
Article by iNews.co.cr
