Weekly Report - 27 May 2010 (WR-10-21)

COSTA RICA | Exports. Exports totalled US$3.2bn in the first four months of 2010, a 13% increase on the same period last year, according to the foreign trade promotion agency (Procomer). The food industry registered the highest sectoral growth (37%) while agriculture increased 12%, driven largely by bananas and pineapples (up 19% and 27% respectively). The free trade zone sector posted 14% growth. North America is the main destination for exports, accounting for 41% of the total market between January and April 2010. The European Union accounted for 19% of all exports, followed by Central America on 18%. As regards overall GDP, in the first quarter, year-on-year growth was up 6.1%. This suggests the recovery is underway: GDP in the third quarter of 2009 was 0.4% down on the same period of 2008, while in the final quarter of 2009 output was up 3.9%. The main reason for the recovery is an increase in manufacturing, agriculture and commerce.

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