Monday 17 May 2021

Export of services stagnated in 2020, after 10 years of sustained growth

The number of jobs generated, not including tourism, increased from 49,440 in 2015 to 81,371 last year; the diversification and sophistication of firms established in Costa Rica stood out

QCOSTARICA – The value of services sector exports, excluding tourism, stagnated last year, after experiencing a 99% increase between 2010 and 2019.

The multinational Cargill is one of the 189 companies that have service centers in Costa Rica that employ 81,371 people, to last year.

This is revealed by a recount of figures requested from the Costa Rican Coalition of Development Initiatives (CINDE) and a report from the Foreign Trade Promoter (PROCOMER).

- Advertisement -

The situation of last year, with data for the third quarter (there are no figures for all 12 months) reflects the impact of the pandemic, despite the fact that some multinationals, in certain sectors, maintained growth and hiring during 2020.

In the accumulated to the third quarter of 2020, the value of exports of services (excluding travel or tourism), barely grew by 0.01% compared to the same period of 2019, according to the latest report from the PROCOMER.

The report indicates that exports were accumulated for US$ 4.1 billion (excluding tourism), to the third quarter last year.

At the end of 2019, income from services, without tourism, totaled US$5.5 billion, which means 99% more than the income of US$2.8 billion in 2010.

- Advertisement -

The generation of employment, however, did not stop last year. The number of jobs generated by these multinational companies went from 49,440 in 2015 to a close with 81,371 last year, a reflection of the constant announcements of hiring in this sector.

In a half-pandemic, between September 2019 and September 2020, 11,901 jobs were created in this type of multinational, said CINDE. This is because some subsectors, such as business services and computing, information and telecommunications, continued to grow in the middle of the health crisis.

The latest report on the impact of free zones in Costa Rica, prepared by the PROCOMER, indicates that, in addition, companies in the service sector generated 25,534 indirect jobs (in activities and services linked to multinationals), at the end of 2019.


- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Costa Rica’s Foreign direct investment begins to recover

QCOSTARICA - The prediction that Costa Rica would be well positioned...

Amazon announces the opening of a new cloud services office in Costa Rica

QCOSTARICA - Amazon Web Services, Inc. (AWS), a division of the...


Nicaragua, the safest country to travel in the region despite Covid-19: Study

TODAY NICARAGUA – A study based on data from the WHO and the University of Oxford placed Nicaragua as one of the “10 safest...

A perfect storm: What’s behind the Colombia protests?

QCOLOMBIA – Colombia has been roiled by nationwide, anti-government protests for more than two weeks, with the city of Cali emerging as the epicenter. Protesters...

3,173 new cases of covid-19 in the last 24 hours; 26 deaths

QCOSTARICA - The country registered a new record of covid-19 infections this Wednesday, reaching 3,173 confirmed cases in a period of 24 hours. The figure...

Why Colombian protesters are taking to the streets

QCOLOMBIA – For the past two weeks, mass protests that started on April 28, have rocked Colombia, leaving at least 42 people dead and hundreds...

Colombia surpasses 80,000 COVID-19 deaths; ICU’s nearly full

QCOLOMBIA – Confirmed deaths from COVID-19 in Colombia passed 80,000 on Friday, May 14, with intensive care units almost full in the biggest cities,...

Travel agencies estimate 10,000 Costa Ricans who will travel to the United Stares to be vaccinated

QCOSTARICA - The demand of Costa Ricans to go to get vaccinated against covid-19 in the United States increased strongly from Semana Santa, so...

Recope requests the sixth consecutive increase in fuel prices for 2021

QCOSTARICA - The Refinadora Costarricense de Petróleo(RECOPE - the refinery that does not refine anything - requested the sixth consecutive fuel hike in 2021. As...

These are the new sanitary measures that will be applied in May

QCOSTARICA - At the press conference from Casa Presidencial that started more than 15 minutes this afternoon, the government announced new sanitary measures that...

Costa Rica will buy two million more doses to accelerate vaccination

QCOSTARICA - The President of the Comision Nacional de Emergencias (CNE), Alexander Solis, announced this Monday afternoon that Costa Rica is purchasing an additional...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.