Saturday, June 24, 2006

Exports increased, but imports will cost more

Marco Vinicio Ruiz(nacion.com) - Costa Rican exports increased 15.86 percent through last May and as compared to the same period that ended in May 2005. During those 12 months, the nation sold $8.49 billion, as compared to $4.464 billion through May last year, according to the Foreign Trade Promoter (PROCOMER in Spanish).

Foreign Trade Minister Marco Vinicio Ruiz pointed out the sustained increase of sales abroad since last year. According to him, the agricultural and the industrial sectors generate most of the sales.

On the other hand the cost of imports rose during this year’s first four months, propelled by the rising price of oil and raw materials in the international market.

As a result, through April, the cost of imports increased by $1.92 billion (22.54 percent), as compared to the first four months last year. The major effect of fuel imports is blamed on the price, since consumption increased only by 2.2 percent.

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