Thursday 29 September 2022

Russia and Ukraine conflict complicated Costa Rica banana exports

'Market saturation'

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29 September 2022 - At The Banks - BCCR

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QCOSTARICA  – The war between Russia and Ukraine complicated Costa Rica’s banana exports, due to a market saturation it generated.

Data from the Cámara de Comercio Exterior (CRECEX) – Chamber of Foreign Trade, reveal a 55% drop in banana exports in the first half of this year, compared to the same period in 2021.

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Bananas are one of the main export products for Costa Rica.

Coffee exports also showed a decrease of almost 60%.

Last March, Jaime García, economist and director of the Índice de Progreso Social (IPS) at the INCAE Business School, said the Russia and Ukraine conflict would have big repercussions on the world economy and Costa Rica would be no exception.

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