Costa Rica’s Exports Up 9 Percent

Costa Rica’s Exports Up 9 Percent / Daily News / News / Costa Rica Newspaper, The Tico Times.

The Foreign Trade Promotion Office (Procomer) announced Wednesday that Costa Rica’s exports have increased 9 percent this year when compared to the first nine months of 2009. From Jan. through Sept. of this year, the country has raked in over $7 billion in sales, compared to $6.5 billion at this point last year.

Procomer reports that 75 percent of all exports are industrial products, 23 percent agricultural products and 2.4 percent fish and livestock. Industrial exports accounted for $205 million more in 2010 than last year, boosted primarily by a 96 percent increase in the export of electric cables and a 36 percent increase in both tires and electrical switches and breakers. Microprocessors and other electric components continue to bring in the largest amounts of revenue, accounting for over $1.4 billion in sales so far this year.

Regarding food and agricultural products, the export of bananas, pineapples and coffee – historically among Costa Rica’s leading exports – all improved, led by a 23 percent increase in the shipping of bananas. In addition to these principal exports, sugar sales abroad have increased a whopping 217 percent, jumping from $23 million in 2009 to $74 million this year.

The majority of Costa Rican exports (41 percent) in 2010 were shipped to the United States, while 12.4 percent have gone to the European Union. Since 2008, exports to the EU have increased 5.9 percent.