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20 years

Costa Rica’s trade deficit continues to grow

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October 22nd, 2014 (InsideCostaRica.com) Costa Rica’s trade deficit continues to grow, according to the latest data provided by the Central Bank.

 

Between January and August, the country’s accumulated trade deficit reached $3.985 billion dollars, an increase of $488 million compared to the same period last year.

 

Total exports for the period were $7,770,000,000 compared to $11,755,000,000 in imports.

 

In 2013, the country’s trade deficit rose 4.2% compared to 2012.

 

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  • Ken Morris

    This has long struck me as one of the more important but often overlooked economic indicators, and in particular one glossed over by the fans of CAFTA. When the country imports more than it exports, which is a growing trend since CAFTA, the economic prognosis is grim.

    Neither will attracting more FDI to create jobs (the usual wished for panacea) reverse this trend, as also won’t exporting more bananas, pineapples, or coffee. Of course, selling off more land to resorts or foreign retirees won’t help either. CR simply has to create more locally-owned value-added industries, yet I hardly ever hear anyone (except Franklin Chang) saying this.

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