QCOSTARICA — External sales as of November report the second highest growth in the last five years, rising 18% so far this year.
This is because all export sectors had a positive performance in the aforementioned period, reaching the sum of US$166.77 billion, that is, US$2.5 billion more than the previous year.
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Precision and medical equipment is consolidated as the main export sector with a 41% share and a growth of 31%; while the agricultural sector occupies second place with a share of 18% and a growth of 12%.
Specifically in the agricultural sector, it is worth highlighting that, in addition to bananas and pineapple, other products grow such as yuca (cassava), chayote, packaged cilantro, palm walnuts, almonds, ñampí, melon, ornamental plants and carrots.
The food industry is in third position with 14% of total goods exports and a growth of 6% between January and November of this year.
Chemical-pharmaceutical and electrical and electronics each have a 5% share and grew 15% and 25%, respectively.
“We are pleased to close the year confirming that our exports are growing, we are committed to diversifying and finding new markets for products made in Costa Rica and maintaining the dynamism of our economy. In 2024 we are going for more,” said Manuel Tovar, Minister of Foreign Trade (COMEX – Comercio Exterior).
Why is Costa Rica important to international trade?
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Costa Rica ratified the U.S.-Central American Free Trade Agreement (CAFTA-DR) in 2009. This free trade agreement eliminated most of the tariffs for non-agricultural imports and has made trade and investment in the region more attractive to U.S. companies.
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