Despite the recent setbacks, Costa Rican authorities are reporting a 2 percent increase in exports over the same period last year.
The Promotora del Comercio Exterior said on Monday that this increase is a result of a continued reliance on export production, along with the exploitation of some new ideas and opportunities.
The promotional organization has made significant efforts to increase and diversify Costa Rican exports, which allowed exporters to place more than 4,400 products abroad last year, said Jorge Sequeira, the general manager of the organization. The most recent data shows growth in products from the industrial and agricultural sectors.
Segueira cited the production of medical devices as a crucial export for Costa Rica, saying that they represented nearly a quarter of all manufacturing exports.
Other particular products that boomed in the past year include frozen fruits, milk, yuca, power cables, and antiserums. The coffee sector experienced a 20 percent dip because of low production numbers, which are mainly due to the la roya epidemic on Latin American coffee farms.
The report showed that the main buyers were from North America at 42 percent of purchases and Europe with 18 percent.
This report comes two weeks after news hit that both Intel and Bank of America would be shutting down production operations within the country, laying a significant blow to Costa Rica’s future export totals