In the Costa Rican News - January 07

China drives Export Boom!!

There was much celebration last week, as trade officials announced an outstanding record, of $8.2 Billion worth of exports in 2006, for Costa Rica.

This news came at a great time, as Costa Rica begins to prepare for its negotiations over exporting to the European Union later this year and Asian countries in 2008 and further into the future.

The real driver in this outstanding export boom is said to be China, who despite not keeping diplomatic relations with, Costa Rica traded $1.1 Billion worth with over the last 12 months. China have emerged as the fastest growing and now second largest trade partner of Costa Rica, behind the US, who traded $3.4 Billion worth in 2006.

Accounting for some 54.3% of Costa Rica's total exports in 2006, these 2 giants in the economic world are clearly the driving force behind Costa Rica's driving growth rate, which is set to take another boost if a good deal is negotiated with the EU in the coming months.

Overall, Costa Rica's export market grew by 16.6% in 2006, with the main influences on this being the export of Microprocessor parts, bananas, medical equipment, pineapples and medications, all of which saw substantial growths themselves.

It is clear now, that President Oscar Arias' goal of exporting $18 Billion worth of goods, annually, by the end of his administration in 2010 is feasible, but the pending trade deals with the EU and Asian countries must go smoothly. It is an ambitious target to more than double the current annual export total, but very achievable with the right management said Trade Officials.

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Shot in the Arm for Arias!!

This week President Oscar Arias took a shot in the arm! A flu shot that is! Public Health Minister Maria Luisa Avilla gave the flu shot to Arias as Costa Rican authorities began their nationwide campaign earlier this month to make people aware of the risks or the influenza virus, and vaccinate the 290,000 people who are most at risk. These include all adults over the age of 65 and children under the age of 8 with certain heart and lung conditions.

The campaign is set to cost around $2 Million and run through till the end of May.

January Exchange Rates

The Exchange rates below are not accurate on a daily basis but just an approximation for your benefit. For more up to date exchanges rates please visit your local bank or online with a currency seller.

 

Costa Rican Colon

976.863 643.938 516.06

US Dollar

1.96 1.29 1.00

 

Usually in Costa Rica US Dollars or Costa Rica Colones can be used. in popular areas and in larger shops US dollars will be more widely accepted. However in small towns and locally run stores only Colones will be accepted.

For more information on Costa Rica why not visit our Costa Rica Holiday Forum and read through what people are saying and asking about Costa Rica.

This news was written by Paul Smith a specialist Consultant for Holidays in Costa Rica.

If you want to reproduce this article please make sure you provide a back link to Holidays in Costa Rica

 
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