Costa Rican exports up 13 percent in 2010
|The first five months of 2010 have been good to Costa Rican exports, which have increased 13 percent overall in comparison with the same period last year. Thus far in 2010, Costa Rican exports have raked in over $4 billion, including revenues of more than $854 million in May, according to the Foreign Trade Promotion Office (Procomer).The three major export sectors – industry, agriculture and fishing– all have reported significant gains over last year. Industrial exports, which include value-added food products and manufactured goods, have accounted for over 72 percent of total Costa Rican exports so far in 2010.
In the industrial sector, computer parts and microprocessors continue to be Costa Rica’s largest grossing exports, generating more than $627 million in sales through the first five months of the year. Export of computer parts and microprocessors, dominated by multinational technology giant Intel Corporation, accounted for over 15 percent of total national exports.
Agricultural exports also started strong this year, accounting for more than 25 percent of total national exports. The improved overseas sale of agricultural products has been led by pineapple, which is up 62 percent compared to the same period in 2009. The export of bananas has increased 49 percent, while coffee exports are up 17 percent. Costa Rica is the world’s leader in pineapple exports and third in banana exports.
The U.S. remains the leading destination for Costa Rican products, accounting for 36 percent of all exports, or $1.45 billion so far this year. The Netherlands, Hong Kong, China and Panama round out the top five destinations for Costa Rica’s exports, with the Netherlands being the only other country that receives over 5 percent of Costa Rica’s exports (6.8 percent).
Word of the Day
Main Entry: ex·port
1 : something exported; specifically : a commodity conveyed from one country or region to another for purposes of trade
2 : the act of exporting : exportation <the export of wheat>
Accounting: v. to cause (usually fol. by for )
The humidity accounts for our discomfort.
Goods: n. plural: something manufactured or produced for sale: wares, merchandise
The goods were sold at a relatively low price.
Grossing: v. To earn as a total income or profit before deductions
The company was grossing three million dollars a year before it went bankrupt.
Percent: n. A percentage or portion
She has invested a large percent of her salary.
Revenues: n. the total income produced by a given source
The storefront property yielded high annual revenues.
Love those phrasal verbs!
Round out: to complete or perfect
The new coin rounded out his collection.
Accounted for: explain, give a reason
I hope you can account for the money you spent!
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In the hope that…
For the purpose of…
With the intention of…
In that case…
Under those circumstances…