Costa Rica Exports Experience Slow Growth Patterns

The Costa Rican export diversification by product and market is one of the shields by which bet the country before the lower global growth, which announced the International Monetary Fund (IMF).

Yesterday this international organization presented its forecast for global economic performance, which made a correction lower for the next two years for all regions.

According to the agency, now the world’s economy will grow 3.5% this year, down from 3.6% expected. In the case of Latin America, the revision of the forecast rose from 3.7% to 3.4% by 2012.

In both cases influences the performance of Europe and the United States.

Anabel González, Minister of Foreign Trade (Comex), said the country has the fortress of exports of goods and services that have been growing in double digits, besides being consolidated in some markets and have some niche positioning, consumption which do not vary so quickly.

Also, according to V Review of the national economy, was reported by the Central Bank a week earlier, the country could maintain its growth.

“have not been reported unfavorable impacts related to the crisis in the euro area and the deceleration in global economic activity in commercial and financial flows of the economy and compromise financial position of the balance of payments in the medium term “said the Central Bank.

On the contrary, the monetary authority expected in the coming months to materialize some benefits in terms of inflation, by lower raw material prices, including oil.

According to economist Jorge Guardia, said we expected the downward revision in the IMF’s forecast.

The country adds to the risks of rising interest rates and a high fiscal deficit.

George Guardia said these factors put a double pressure. “I think the growth will be closer than originally planned the Central Bank (3.8%).”

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