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Costa Rica exports rise by 7%



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Published on Tuesday, August 27, 2024

By the A.M. Costa Rica staff


 

As of July, Costa Rica's exports increased 7% reaching over $11 billion, according to the Ministry of Foreign Trade.



The number represents a rise of more than $774 million during the same period in 2023 when exports were about $10.4 billion.


Among the sectors with the highest growth in exports were 13% in medical equipment manufacturing ($530 million), 5% in agricultural products ($110 million),  6% in food ($84 million) and 6% in electronics ($33 million).


Some of the leading export products are medical devices increasing 47%, banana and pineapple growing 7%, syrups improving  4% and coffee rising 2%.






The main export markets for products made in Costa Rica were North America 10%, Europe 10%, South America 4% and Central America 3%.



In 2023, Costa Rica's exports reached over $18.2 billion. The number represents a rise of more than $6 billion over 2022 when exports were about $12 billion.



To increase exports, in 2022, Costa Rica legalized medical cannabis and hemp production. However, recreational use, self-cultivation, and self-consumption of cannabis are still illegal.



In 2023, the Ministry of Agriculture granted the state-owned National University (UNA) authorization to import hemp seed from Canada to grow and develop research on the plant.

         



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What other products should Costa Rica export? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com



  


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