COSTA RICA BUSINESS NEWS — The value of exports of microchip processors from Costa Rica fell 14% in the last 12 months (November 2013 to October 2014) as compared to the same period the previous period (November 2012 to October 2013).
The total fell from US$2.39 billion in exports in the November 2012 and October 2013 to US$2.052 billion in the November 2013 to October 2014 period.
The decline is due to the gradual departure of US microchip manufacturer Intel.
Despite the impact of the decline in microprocessor exports, overall Costa Rican exports rose by 0.88% between the two periods, according to the website statistics of the Promotora del Comercio Exterior (Procomer).
Procomer says says that exports went from US$11.52 billion in November 2012 to October 2013 period to US$11.62 billion in the November 2013 to October 2014 period.
According to Procomer, in the first ten months of the year (January to October 2014), exports in medical devices increase US$230 million dollars over the same period last year. Food exports (made up almost entirely of formulas for soft drinks) sores US$34 million; and, milk and dairy products say an increase of US$23 million.
It’s going to get a lot worse. Businesses are leaving the country left and right and no one new is coming in. Investment is dropping in huge chunks. People are screaming that they cannot afford to live in their own country any longer. And what is being done? Nothing. Absolutely nothing.
Costa Rica has this horrible sense of entitlement because of all the wonderful things that the tourists said about it. The country IS beautiful, but when no one can afford to live well, and it is a struggle just to afford necessities and the politicians are “business as usual”… maybe the complacent Ticos should start demanding change. That is the only way it will happen. Backbone and balls are needed… desperately before it is too late.