Costa Rica Economy and Construction In The News

The deputy minister of Comex, Fernando Ocampo, said in a news conference that Costa Rica exports have exceeded the target it had set for 2012 (USD $15.750 billion) and almost reached the goal of this year (USD $17 billion).

According to official figures Costa Rica exported a total of USD$11.298 billion of which $5.577 billion was in services.

Ocampo also said that 2012 was a record year for the number of exporting companies, which reached 2504.

“2012 ended with excellent results for the Costa Rican foreign trade growth of 8.9% compared to 2011, which is six times the average growth of exports from Latin America and 3.6 times the growth in world trade volume”, said the deputy minister.

Sales of the companies in the Trade Free Zones increased by 11.5% (from USD$5.368 billion to USD$5,984 billion), fishing and fisheries grew by 20.5%, industry by 10.8% and agriculture by 1.8%.

Medical devices (50.7%), Beef and fish (35%), Electrical cables (30%), Microprocessors (18.4%) Milk (17.9%), Pineapples (7%) Bananas (6.8%), Serums for transfusions (4%) and coffee (3.6%).

The United States remains the main destination of Costa Rican exports of goods, comprising 39.2% of the total, and reporting a growth of 10.2% followed by European Union (18% of exports), other countries in Central America (14%) and Asia (13%).

For this year, the Government had proposed an export target of USD$17,000 million, so that trade officials hope that will be overcome, despite the contraction in demand in some major markets.

Costa Rica Construction Up 11% in 2012

According to the Association of Engineers and Architects (CFIA) the total number of square meters of construction was up 17% in 2012 and according to the Costa Rican Chamber of Construction (CCC) construction increased by 11%…

The difference between the two figures has been attributed to the fact that the CCC does not include walls, streets and cell towers.

“If we measure the number of square meters registered, according to statistics from the CCC, last year we only just reached 2006 levels,” said Román Salazar, vice president of the Costa Rican Chamber of Construction.

Overall, construction in the two provinces worst hit by the financial crisis have increased significantly with Puntarenas enjoying a 43.6% increase and Guanacaste 20.8%. The largest number of construction projects were initiated San José, Alajuela, Santa Ana, Heredia and Puntarenas.

For 2013, the Costa Rican Chamber of Construction expects an increase of 11% similar to 2012. “Growth will depend on economic activity,” said the President of the CCC Gonzalo Delgado.

Among the works that could energize the sector this year are the Moin Container Terminal, the Wastewater System of the greater metropolitan area (GAM) and several bridges and roads. In addition, the CCC believes necessary to promote housing for the middle class.

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.