More than $1.5 billion was invested by 105 Costa Rican businesses into foreign projects last year, according to the Promotora del Comercio Exterior de Costa Rica and the Ministerio de Comercio Exterior.
The study showed that $434 million went to the United States, Panama got $256 million and Nicaragua got $210 million. Statistics and information were taken from 256 projects.
These latest findings hint that the Dominican Republic-Central American Free Trade Agreement has so far been a positive for Costa Rica. Anabel González, the minister of Comercio Exterior, said this economic progress going beyond the border has allowed domestic businesses to boom.
“The commercial integration of Costa Rica to the rest of the world has allowed the implementation of national firms in global markets to expand operations and take advantage of new opportunities,” Ms. González said. She cited the trade system as giving the nation’s enterprises an increased ability to invest abroad with greater risk diversification and greater trust in those investments.
Of the $1.5 billion invested, the three main sectors in which the money was concentrated were the development of infrastructure, 33 percent, social programs 32 percent, and commercial sector 30 percent.
Francisco Gamboa, the director of commercial intelligence for Promotora del Comercio Exterior, said, “The internationalization of the Costa Rican companies, made by investing in other markets, is a logical and appropriate step that follows the activity of exporting. It reflects the maturity of these national companies who are now ready to conquer international markets.”
Costa Rican businesses are finally beginning to reach into other, previously untapped markets. Since 2009, there have been 78 new projects developed, which points to the recuperation and sustainability of national businesses.
The Instituto Nacional de Estadística y Censo helped with research of these findings.