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 Medical devices currently account for 34% of Costa Rica’s exported goods. - Photo for illustration purposes only - |
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Published on Thursday, August 5,
2021
Medical and precision equipment continue to top the list of export products for the first six months of 2021, from January to June, announced the Foreign Trade Promotion Agency, Procomer. According to the agency, the cumulative change from the first semester of 2020 to the first semester of 2021 was more than 46% or a net charge of $788 million. Medical devices currently account for 34% of Costa Rica’s exported goods for a cumulative value of $2.5 billion in the first semester of 2021, on track for exceeding this year’s target of $5 billion. The growth trend began in 2000 with eight MedTech companies in the country to 88 firms in 2020, expanding from a workforce of 1,500 to more than 38,248. "The MedTech companies have found a strategic ally in Costa Rica for growing their operations and manufacturing devices for global health," Procomer said in its statement." Their confidence has enabled the country to develop an increasingly sophisticated manufacturing industry hand in hand with research and development and technology. One of the recent international MedTech companies to open operations in the country was the Canadian-based company Baylis Medical, a developer of innovative medical devices in cardiology. Also this month, TE Connectivity, an American-Swiss technology announced they will hire more employees for its medical manufacturing plant in Costa Rica. ------------- What other international MedTech company should open a branch in Costa Rica? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com             
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