Costa Rica’s trade deficit rises 7.5% so far this year

September 27^th, 2013 (InsideCostaRica.com) Costa Rica’s trade deficit for the first eight months of the year totaled $4.1 billion, representing a 7.5% increase over the $3.9 billion recorded during the same period in 2012, officials said yesterday.

Data released by Costa Rica’s Central Bank (BCCR) indicates that imports saw a slight increase of 2%, from $11.6 billion to $11.9 billion.

Meanwhile, exports between January and August 2013 totaled $7.7 billion, down 0.8% from the $7.8 billion recorded for the same period last year.

Officials have argued that the drop in exports in 2013 is due to economic problems in Europe and the United States, Costa Rica’s main export markets.