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Costa Rica's trade deficit reaches over $900M

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Published on Tuesday, August 15, 2023
By the A.M. Costa Rica staff

The latest data from the National Institute of Statistics and Censuses (Inec) reveals that Costa Rica's trade balance from April to May had a deficit of $964 million.

Statistics show that during that period imports were $5.79 billion. The main products purchased abroad were fuels, which represented 14.42% of the total imported in that quarter. 

On the other hand, exports during the same period reached $4.83 billion, well below imports, creating a trade deficit. The leading export products were medical instruments, appliances and fresh fruits. These products represented 41.47% of the total exported.

According to the institute's data, Costa Rica's main regional trade partners, in both imports and exports, are North America, Asia, and Central America. 

To improve the exports in Central America, last week, the government inaugurated a ferry service between Costa Rica and El Salvador.

In 2022, Costa Rica's exports totaled over $12 billion.

In which other port should authorities invest in improvements?  We would like to know your thoughts on this story. Send your comments to news@amcostarica.com

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