The country’s exports to May were $ 4.7 billion, but only grew 0.9% year-on-year, according to data from the Central Bank, this being the lowest growth so far in 2019.
The deceleration trend for the seventh month is confirmed; that is, sales abroad grow month by month, but less than the previous period. On the other hand, it is the first time since January 2016 that year-on-year growth is less than 1% for a specific month.
There is an acceleration of the exports of goods of the special regime (free zones), and a fall in exports of goods of what is known as the definitive regime. We see how the fall of the definitive regime is explained by the adverse weather conditions that caused a decrease in the banana production, and the fall in the international prices of the pineapple. The fall in exports of goods also weighed, said Alberto Franco, an economist.
Some internal climatic phenomena, the global panorama of little economic dynamics, as well as the cheapening of raw materials, also caused these figures.
Only in May, the sales of this regime fell 9.7%, the highest decline in recent years.
On the other hand, the free zone companies live their best moment, since last October they are growing interannually above 10% each month.