Costa Rica’s Free Zone Exports Growing Much Faster Than Others

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By Wendy Anderstrade association agreement costa rica

Exports of goods from Costa Rica during the first eight months of 2016 grew by 2 per cent compared with the same period last year, reported Honduras’ daily Diario La Tribuna

Costa Rica’s Foreign Trade Promotion Agency (PROCOMER) indicate that exports through August totaled US$6.634 million, 2 per cent more than the US$6.505.5 million accumulated over the same period in 2015.

“The growth in exports is important, reflecting a positive trade balance in Costa Rica, however, of concern is that the growth is focused solely on companies in the free zone regime, which by its nature has greater incentives granted by law,” said the Chamber of Exporters of Costa Rica (Cadexco) in a statement.

According to the Chamber, the sales of free zone companies grew by 13 per cent while the rest, an agglomerated total of all other exports, grew only 1 per cent.

“At Cadexco we are concerned that growth in other exports has been minimal, as these are made up of a larger number of companies, have more diversified products, are concentrated in rural areas, and employ much of the labor force in these areas,” said Cadexco.

Cadexco president, Laura Bonilla, asked the government to implement actions that benefit businesses outside free zones and enable their growth.

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