Jeson Clarke

Costa Rica's Food Trade

In 2020, Costa Rica's economy notably decreased. Like other countries, COVID-19 hit Costa Rica's economy hard. The reason for this is due to the country's open economy, which includes trade, foreign investments, tourism and worldwide supply chains.

The problem with COVID is that the country's tourism exports crumpled. Once the outbreak is contained, Costa Rica's economic growth should start to recuperate. According to Costa Rica import data, the country's GDP is expected to increase by around 2.3%. Also, finance experts are predicting that the country's GDP will continue to grow by around 3% each year until the year 2027. If you need Costa Rica import data, visit this website.

Costa Rica does a large amount of trade with the US. Most of the country's business professionals are bilingual, which makes them able to negotiate easily and effectively with Americans. Food is a major export between the United States and Costa Rica.

Food Exports to Costa Rica

There are advantages and challenges involved in exporting food to Costa Rica from the United States. The most common food exports are:

• Basic ingredients
• Snack foods
• Processed vegetables
• Dog and cat food
• Non-alcoholic beverages

One of the advantages of exporting food products to Costa Rica is its proximity. The US is close to Costa Rica, making trade more convenient. US exporters are also able to provide different food product volumes based on demand. Food products from the US offer value to Costa Ricans when it comes to price and quality.

Costa Rica import data shows that there are trade challenges. For instance, US products that are being shipped from the Western United States come with higher transportation costs compared to similar suppliers from other Central America areas. Also, Costa Rica features a slow and burdensome bureaucracy that makes trading more challenging.

Food in Demand

Euro monitor reports that Costa Rica increased its demand for processed food during the first part of 2020. Like other areas, people in Costa Rica started storing food items that featured a longer shelf life. As the pandemic wore on, food exports to Costa Rica started to shift to fresh food since buyers began making it a bigger priority.

Author Resource:-

Jeson Clarke writes about database technologies, import/export data and customs data tools. You can find his thoughts at import export data tool blog.