Costa Rica: Industries Predict Better Results in 2010

57% of Costa Rican industrial companies believe that 2010 will be a year of overall better performance, compared with 2009.

Tuesday, October 12, 2010


This conclusion by the Chamber of Industries of Costa Rica (ICRC), through the Business Outlook Survey and Rating Factors for Competitiveness in the Costa Rican Industry, which helped assess the strengths and weaknesses facing the sector.

According to survey results, product quality, price and production technology, occupied the top three in terms of internal factors influencing business competitiveness. Occupying the fourth and fifth are quality of customer service and then skills and capabilities of labor.

The study noted increasing competition and the great changes in the way we do business as a result of new information and communication technologies, requires companies to have a closer relationship with their customers so customer service is another of the factors that must become relevant to industries.

As for external factors that adversely affect the industry, the top three in order of importance are access to financing, the cost of electricity and the availability and quality of human resources. However, with significant differences depending on the size of companies.

Other factors affecting industrial enterprises in general, financing costs, taxes and social contributions, fuel costs and paperwork and permits which hamper their development. Ending the list, poor road and port infrastructure.

Other findings identified in the study are that 73% of industrial workers are men and 27% female. And as the fate of the production sector, 53% of companies exported, while 47% use the domestic market as their destination.

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A study reveals that the cost of electricity and the exchange rate are the main factors affecting the competitiveness of Costa Rica's industry.

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Costa Rica Through Eyes of IMF in November 2014

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From a statement issued by the International Monetary Fund (IMF):

This note summarizes preliminary findings and recommendations of the IMF staff mission that visited Costa Rica during October 28–November 11 to conduct the 2014 Article IV consultation.

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