American Expatriate Costa Rica

Exporters fear that crisis in Nicaragua will impact regional trade

The Chamber of Exporters of Costa Rica (CADEXCO) made a call to the national authorities as a result of the crisis that continues to expand in Nicaragua, the fifth commercial partner of the country.

Nicaragua is also a transit territory for exports going to El Salvador, Honduras, and Guatemala. Although until May the figures to this region registered an exported amount of $ 1,049 million, CADEXCO believes that it should be taken into account that some companies exported more to those destinations to supply the distribution centers due to the aggravation of the crisis.

We ask the government authorities to resume the ferry project to El Salvador and activate it in the short term. Likewise, we ask the institutions related to the export sector to apply efficiency and promptness in their efforts so that the affected exports can advance to that Central American destination efficiently,”

said Laura Bonilla, president of the group.

For the first five months of the year, exports showed an increase of 6% compared to the same period in 2017, this represents an exported amount of $ 4,719 million. The companies located in the free zone regime show a growth of 11%, while those in the definitive regime grew 3%.

Bonilla highlighted the dynamism of all sectors, including manufacturing (+ 11%), agriculture (+ 2%), food (+ 1%), livestock and fisheries (+ 5%).

We believe it’s fundamental that the competent authorities assess the prompt attention of the recommendations that we have raised in the Competitiveness Plan of the export sector 2018-2022. These recommendations will reactivate the productive sector and strengthen the export sector,”

added Bonilla.

Main products exported to Central America:
Medicines
Sauces and preparations
Diapers
Fine bakery products
Electric cables
Paints and varnishes
Plastic products for packaging
Antisera
Textiles and clothing

crhoy.com